Fundametal Accounting CPT
This query is : Resolved
Girish S Khanvilkar
(Querist)
25 March 2010
How to calulate of Interest Drawing
In CPT Course Material Explain
Begining of the Drawing is calculate at 6.5month
& end of month calculate 5.5
please explain above matter
Regards
Girish
In CPT Course Material Explain
Begining of the Drawing is calculate at 6.5month
& end of month calculate 5.5
please explain above matter
Regards
Girish
shakuntala chhangani
(Expert)
01 April 2010
Hi Girish, say the drawings are amde at the beginning of each month. it means that the withdrawals will be made on 1st Jan, 1st feb....... 1st Nov and 1st dec.
it meand that partner will hv to pay interest for full 12 months for withdrawal of Jan, 11 months for feb..... 2 months for nov and 1 month for dec. If we take average of the same (12+11+....+2+1/12), we can simply say that on an average partner will hv to pay 6.5 months interest. same is the funda for 5.5 but it starts from 11, 10.....1,0 if the withdrawals are made at the month end.
Regards, CA Shakuntala Chhangani
it meand that partner will hv to pay interest for full 12 months for withdrawal of Jan, 11 months for feb..... 2 months for nov and 1 month for dec. If we take average of the same (12+11+....+2+1/12), we can simply say that on an average partner will hv to pay 6.5 months interest. same is the funda for 5.5 but it starts from 11, 10.....1,0 if the withdrawals are made at the month end.
Regards, CA Shakuntala Chhangani
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