{"id":1322,"date":"2019-06-18T15:10:17","date_gmt":"2019-06-18T15:10:17","guid":{"rendered":"https:\/\/commerceiets.com\/?p=1322"},"modified":"2019-06-18T15:10:17","modified_gmt":"2019-06-18T15:10:17","slug":"drawings","status":"publish","type":"post","link":"https:\/\/commerceiets.com\/drawings\/","title":{"rendered":"DRAWINGS"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/commerceiets.com\/drawings\/#DRAWINGS\" title=\"DRAWINGS \">DRAWINGS <\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/commerceiets.com\/drawings\/#DRAWING_AGAINST_CAPITAL\" title=\"DRAWING AGAINST CAPITAL\">DRAWING AGAINST CAPITAL<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/commerceiets.com\/drawings\/#DRAWING_AGAINST_PROFIT\" title=\"DRAWING AGAINST PROFIT\">DRAWING AGAINST PROFIT<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/commerceiets.com\/drawings\/#DIFFERENCE_BETWEEN_DRAWINGS_AGAINST_PROFIT_AND_DRAWINGS_AGAINST_CAPITAL\" title=\"DIFFERENCE BETWEEN DRAWINGS AGAINST PROFIT AND DRAWINGS AGAINST CAPITAL\">DIFFERENCE BETWEEN DRAWINGS AGAINST PROFIT AND DRAWINGS AGAINST CAPITAL<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/commerceiets.com\/drawings\/#DRAWINGS_ACCOUNT\" title=\"DRAWINGS ACCOUNT\">DRAWINGS ACCOUNT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/commerceiets.com\/drawings\/#INTEREST_ON_DRAWINGS\" title=\"INTEREST ON DRAWINGS\">INTEREST ON DRAWINGS<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/commerceiets.com\/drawings\/#PURPOSE\" title=\"PURPOSE \">PURPOSE <\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/commerceiets.com\/drawings\/#JOURNAL_ENTERIES\" title=\"JOURNAL ENTERIES\">JOURNAL ENTERIES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/commerceiets.com\/drawings\/#METHODS_OF_CALCULATING_INTEREST_ON_DRAWINGS\" title=\"METHODS OF\nCALCULATING INTEREST ON DRAWINGS\">METHODS OF\nCALCULATING INTEREST ON DRAWINGS<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/commerceiets.com\/drawings\/#PRODUCT_METHOD\" title=\"PRODUCT METHOD\">PRODUCT METHOD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/commerceiets.com\/drawings\/#AVERAGE_PERIOD_METHOD\" title=\"AVERAGE PERIOD METHOD\">AVERAGE PERIOD METHOD<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"drawings\"><span class=\"ez-toc-section\" id=\"DRAWINGS\"><\/span>DRAWINGS <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Drawings means the amount withdrawn by partners for their personal use. It may be in the form of cash or kind. These are shown always on the Debit side of the <a href=\"https:\/\/commerceiets.com\/partners-capital-accounts\/\">Partner\u2019s Capital Account<\/a>. <\/p>\n\n\n\n<p>It may be out of capital or against profit. Drawing out of capital means withdrawal of part of capital while drawing against profit mean withdrawal of amount against profit earned during the year by the firm.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"drawing-against-capital\"><span class=\"ez-toc-section\" id=\"DRAWING_AGAINST_CAPITAL\"><\/span>DRAWING AGAINST CAPITAL<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>It means the withdrawal by a partner out of his or her capital. Interest on capital is not allowed or paid by the firm on the amount of capital withdrawn. The amount withdrawn by a partner against his or her capital is debited to his or her capital account. As a result of this, partner gets interest on capital on the amount and for the period capital remains in the business.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"drawing-against-profit\"><span class=\"ez-toc-section\" id=\"DRAWING_AGAINST_PROFIT\"><\/span>DRAWING AGAINST PROFIT<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>It mean amount withdrawn by a partner against his or her share of profit earned by the firm for the year. When a partner withdraws amount against his or her share of profit, the firm charges interest on such amount at an agreed rate of interest in the Partnership Deed. If the partnership deed does not exist or it exist but does not have a clause for charging interest on drawings, interest is not charged on drawing. Interest is calculated for the period on the amount withdrawn by a partner, i.e., from the date of drawing till the end of the accounting period.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"difference-between-drawings-against-profit-and-drawings-against-capital\"><span class=\"ez-toc-section\" id=\"DIFFERENCE_BETWEEN_DRAWINGS_AGAINST_PROFIT_AND_DRAWINGS_AGAINST_CAPITAL\"><\/span>DIFFERENCE BETWEEN DRAWINGS AGAINST PROFIT AND DRAWINGS AGAINST CAPITAL<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-subtle-pale-blue-background-color has-background\"><tbody><tr><td>\n  <strong>BASIS OF DIFFERENCE<\/strong>\n  <\/td><td>\n  <strong>DRAWINGS AGAINST PROFIT<\/strong>\n  <\/td><td>\n  <strong>DRAWINGS AGAINST CAPITAL<\/strong>\n  <\/td><\/tr><tr><td>\n  <strong>WHERE DEBITED<\/strong>\n  <\/td><td>\n  It\n  is debited to Drawings Account.\n  <\/td><td>\n  It\n  is debited to Capital Account.\n  <\/td><\/tr><tr><td>\n  <strong>PART<\/strong>\n  <\/td><td>\n  It\n  is a part of expected profits.\n  <\/td><td>\n  It\n  is a part of capital.\n  <\/td><\/tr><tr><td>\n  <strong>EFFECT<\/strong>\n  <\/td><td>\n  It\n  does not reduce capital.\n  <\/td><td>\n  It\n  reduces capital.\n  <\/td><\/tr><tr><td>\n  <strong>INTEREST ON DRAWINGS<\/strong>\n  <\/td><td>\n  It\n  is considered for calculating interest on drawings.\n  <\/td><td>\n  It\n  is not considered for calculating interest on drawings.\n  <\/td><\/tr><tr><td>\n  <strong>INTEREST ON CAPITAL<\/strong>\n  <\/td><td>\n  It\n  is not considered for calculating interest on capital.\n  <\/td><td>\n  It\n  is considered for calculating interest on capital.\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"drawings-account\"><span class=\"ez-toc-section\" id=\"DRAWINGS_ACCOUNT\"><\/span>DRAWINGS ACCOUNT<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Where withdrawals of money are made at frequent intervals, it is usual practice to open \u201cDrawing Account\u2019 for each partner. This facilitates in keeping the capital and current account uncongested. This, at the end of the year is transferred to Capital or Current Account.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"interest-on-drawings\"><span class=\"ez-toc-section\" id=\"INTEREST_ON_DRAWINGS\"><\/span>INTEREST ON DRAWINGS<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It is charged by the partners at a fixed rate written on the partnership deed. In the absence of this clause in the partnership deed no interest is charged.<\/p>\n\n\n\n<p>Interest on drawings\nis the income of the firm and is an expense for partner. Usually, it is not\nreceived by the firm in cash. It is calculated on the amount of cash and goods\nwithdrawn by the partners for personal use. Partners are entitled to make\ndrawings from the business against their claim of salaries, commission and\ninterest on capital etc. In addition to this, they can withdraw money from\nbusiness in anticipation of their share of profits to be earned by the business\nduring the accounting period.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"purpose\"><span class=\"ez-toc-section\" id=\"PURPOSE\"><\/span>PURPOSE <span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>If the amount withdrawn by the partners are not in their mutual profit share ratio and partner may overdraw or gain at the cost of others. Therefore, to avoid this, interest on drawing is charged so that one who draws more would not gain and is brought at par with the partners whose amount withdrawn is less. Secondly, the interest keeps a check on unnecessary amount withdrawn and this helps in out flow of funds.&nbsp;&nbsp; <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"journal-enteries\"><span class=\"ez-toc-section\" id=\"JOURNAL_ENTERIES\"><\/span>JOURNAL ENTERIES<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-subtle-pale-blue-background-color has-background\"><tbody><tr><td>\n  <strong>DATE<\/strong>\n  <\/td><td>\n  <strong>PARTICULARS<\/strong>\n  <\/td><td>\n  <strong>L.F.<\/strong>\n  <\/td><td>\n  <strong>DEBIT<\/strong>\n  <\/td><td>\n  <strong>CREDIT<\/strong>\n  <\/td><\/tr><tr><td>\n  &nbsp;\n  <\/td><td>   <strong>FOR DRAWINGS:<\/strong>   <br \/>Partner\u2019s   Drawings A\/c&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dr.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;   &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br \/>                     To Cash\/ Purchases A\/c   <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><\/tr><tr><td>\n  &nbsp;\n  <\/td><td>   <strong>FOR INTEREST ON DRAWINGS<\/strong>   <br \/>Partner\u2019s   Drawings\/ Current A\/c&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dr.&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;   &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br \/>To Interest on Drawings   <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><\/tr><tr><td>\n  &nbsp;\n  <\/td><td>   <strong>FOR TRANSFER OF INTERST ON DRAWINGS TO PROFIT   &amp; LOSS APPROPRIATION ACCOUNT<\/strong>   <br \/>Interest   on Drawings A\/c&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dr.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;   &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br \/>         To Profit &amp; Loss   Appropriation A\/c   <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"methods-of-calculating-interest-on-drawings\"><span class=\"ez-toc-section\" id=\"METHODS_OF_CALCULATING_INTEREST_ON_DRAWINGS\"><\/span>METHODS OF\nCALCULATING INTEREST ON DRAWINGS<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Drawings of a partner\nmay be broadly divided into:<\/p>\n\n\n\n<p>Irregular Drawing: It means drawing of same amount or different amounts at irregular intervals.<\/p>\n\n\n\n<p>Regular Drawing: It means drawing of same amount at regular intervals.<\/p>\n\n\n\n<p>When drawing are made at irregular period or of different amounts, Product Method of calculating interest is followed. And when drawing are made of same amount at regular intervals, interest is calculated using Average Period Method.<\/p>\n\n\n\n<p>There are two methods which are as follows:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"product-method\"><span class=\"ez-toc-section\" id=\"PRODUCT_METHOD\"><\/span>PRODUCT METHOD<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>When unequal amount is withdrawn at different dates or when there is irregular drawing, interest  is calculated with the help of Product Method.<\/p>\n\n\n\n<p>Product Method: Under this method, the amount of drawing is multiplied with the number of months and number of days it has been used. The product so obtained is totaled and the interest is calculated thereon for one month, if the period is taken in months and for one day if the period is taken in the days. <\/p>\n\n\n\n<p class=\"has-pale-cyan-blue-background-color has-background\"><strong>INTEREST : TOTAL OF PRODUCT * (RATE OF INTEREST\/100) * (1\/12)<\/strong><\/p>\n\n\n\n<p>EXAMPLE<\/p>\n\n\n\n<p>In a partnership, partners are charged interest on drawing @15%p.a. During the year ended 31-3-2018, a partner drew as follows:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-subtle-pale-blue-background-color has-background\"><tbody><tr><td>\n  Date\n\n  <\/td><td>\n  1-5-17\n  <\/td><td>\n  1-8-17\n  <\/td><td>\n  31-9-17\n  <\/td><td>\n  31-1-18\n  <\/td><td>\n  31-3-18\n  <\/td><\/tr><tr><td>\n  Amount\n  (\u20b9)\n  <\/td><td>\n  2,000\n  <\/td><td>\n  5,000\n  <\/td><td>\n  2,000\n  <\/td><td>\n  6,000\n  <\/td><td>\n  2,000\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>The interest will be:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\n  Date\n\n  <\/td><td>\n  Amount\n  (\u20b9)\n  <\/td><td>\n  No.\n  of months up to 31-3-18\n  <\/td><td>\n  Product\n  <\/td><\/tr><tr><td>\n  1-5-17\n  <\/td><td>\n  2,000\n  <\/td><td>\n  11\n  <\/td><td>\n  22,000\n  <\/td><\/tr><tr><td>\n  1-8-17\n  <\/td><td>\n  5,000\n  <\/td><td>\n  8\n  <\/td><td>\n  40,000\n  <\/td><\/tr><tr><td>\n  31-9-17\n  <\/td><td>\n  2,000\n  <\/td><td>\n  6\n  <\/td><td>\n  12,000\n  <\/td><\/tr><tr><td>\n  31-1-18\n  <\/td><td>\n  6,000\n  <\/td><td>\n  2\n  <\/td><td>\n  12,000\n  <\/td><\/tr><tr><td>\n  31-3-18\n  <\/td><td>\n  2,000\n  <\/td><td>\n  0\n  <\/td><td>\n  0\n  <\/td><\/tr><tr><td>\n  &nbsp;\n  <\/td><td>\n  <strong>17,000<\/strong>\n  <\/td><td>\n  &nbsp;\n  <\/td><td>\n  <strong>86,000<\/strong>\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Interest in Drawings&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; =86,000*15*1\/100*12<\/p>\n\n\n\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; =\u20b91,075<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"average-period-method\"><span class=\"ez-toc-section\" id=\"AVERAGE_PERIOD_METHOD\"><\/span>AVERAGE PERIOD METHOD<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This method is used\nwhen there is regular drawings or when:<\/p>\n\n\n\n<ul><li>The amount of drawings is uniform<\/li><li>The time interval between the two\ndrawings is also uniform<\/li><\/ul>\n\n\n\n<p class=\"has-pale-cyan-blue-background-color has-background\"><strong>INTEREST ON DRAWING= TOTAL DRAWINGS* RATE OF INTEREST*AVERAGE PERIOD\/100*12<\/strong><\/p>\n\n\n\n<p>The different cases\nunder this method are as follows:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\n  &nbsp;\n  <\/td><td>\n  CASES\n  <\/td><td>\n  AVERAGE\n  PERIOD\n  <\/td><\/tr><tr><td>\n  1.\n  <\/td><td>\n  When\n  Fixed Amount is withdrawn on FIRST DAY of every Month\n  <\/td><td>\n  6.5\n  Months\n  <\/td><\/tr><tr><td>\n  2.\n  <\/td><td>\n  When\n  Fixed Amount is withdrawn on LAST DAY of every Month\n  <\/td><td>\n  5.5\n  Months\n  <\/td><\/tr><tr><td>\n  3.\n  <\/td><td>\n  When\n  Fixed Amount is withdrawn on FIRST DAY of every Quarter\n  <\/td><td>\n  7.5\n  Months\n  <\/td><\/tr><tr><td>\n  4.\n  <\/td><td>\n  When\n  Fixed Amount is withdrawn on LAST DAY of every Quarter\n  <\/td><td>\n  4.5\n  Months\n  <\/td><\/tr><tr><td>\n  5.\n  <\/td><td>\n  When\n  no date of drawings is given\n  <\/td><td>\n  6\n  Months\n  <\/td><\/tr><tr><td>\n  6.\n  <\/td><td>\n  When\n  a Fixed Amount is withdrawn in the MIDDLE of every month\n  <\/td><td>\n  6\n  Months\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p>\u001b\u0002<\/p>\n\n\n\n<p>\u0001<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DRAWINGS Drawings means the amount withdrawn by partners for their personal use. It may be in the form of cash or kind. These are shown always on the Debit side of the Partner\u2019s Capital Account. It may be out of capital or against profit. Drawing out of capital means withdrawal of part of capital while&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/commerceiets.com\/drawings\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;DRAWINGS&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":1324,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,21],"tags":[36,37,38],"_links":{"self":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/1322"}],"collection":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/comments?post=1322"}],"version-history":[{"count":0,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/1322\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media\/1324"}],"wp:attachment":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media?parent=1322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/categories?post=1322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/tags?post=1322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}