1. LESSON PLAN
Name of the Teacher :- Binu V Dev
Name of the School :- V.V.H.S.S
Thamarakulam
Subject :- Accounting
Unit :- Accounting for
Partnership
Topic :- Drawings & Interest on
Drawings
Standard :- XII
Strength :- 48/55
Average Age :- 17 Years
Duration :- 45 mts
Date :-
Content Outline
Content Analysis
Terms
Facts
Drawings & Interest on Drawings :- Drawings, Interest on Drawings,
Different ways of Computation
Drawings, Drawings Account, Interest on Drawings
1. Withdrawal by a partner in the form of money or money’s
worth from a firm in anticipation of profit is called drawings
2. When cash or goods are withdrawn by a partner, Drawings
Account is debited
3. When cash or goods are withdrawn by a partner Cash or
Purchase Account is credited
4. Drawings Account is closed by transfer to Capital Account or
Current Account of the partner concerned
5. Interest is to be charges on the withdrawals made by the
partners if it has been mentioned the Partnership Deed
2. Concept
Curricular Objectives
Pre-requisites
Teaching Learning Resources
Teaching Learning Strategies
Reference
6. Interest on Drawings is debited to Partners Capital Account
as it is an expense to partners
7. Interest on Drawings is credited to Profit & Loss
Appropriation Account
8. Rate, amount, & the period are the three important aspects
in the calculation of Interest on Drawings
9. If the date of drawings is not given it may be assumed that
drawings were made evenly throughout the year. In such a
case interest should be for six months on the whole amount
Withdrawal by a partner in the form of money or money’s worth
from a firm in the anticipation of profit is called drawings. When cash
or goods are withdrawn by a partner Drawings Account is debited,
Cash or Purchase Account is credited and for closing the Drawings
Account it should be transferred to Capital Account
To generate an idea about the concept Drawings, Interest on
Drawings and it would be beneficial for the students in order to deal
with future situation whether they become a part of a Partnership
Firm
To give an idea about various treatment and journal entries
regarding both the items through general discussion, chart
explanation etc….
Students should have an idea on cash deposit and withdrawals of
cash and already know about Partnership
Usual classroom aids like Chalkboard, model showing the treatment
of Drawings. Placard showing the Interest on Drawings (Treatment)
General Discussion, Group Discussion, Brain Storming, Analysis of
Chart, Model
SCERT Source Book
Plus Two Accountancy Text Book - Dr. P.K.LAZER
3. CLASSROOM INTERACTION PROCEDURE
PHASE :- 1 INTRODUCTORY PHASE
ACTIVITY :- 1 STORY TELLING
After the routine classroom practices teacher begins the
class by describing an event that was happened in the teacher childhood.
Teacher needs some money for buying text books and pen. Teacher asked
to his father. Then the father told to him that comes to our shop at 9’O
clock. I will give money from our shop. The teacher went there and father
given the money and also told him to that report this event to the
Accountant
Teacher also show a model showing this incident
After this the teacher asks the following questions
relating to the concept.
1. Which concept is referred here?
2. Define the meaning of concept?
On the opinion of students the teacher introduced
The concept Drawings and show a Chart
Withdrawal by a person in the form of money or
money’s worth from a firm in anticipation of profit is called Drawings
ACTIVITY :- 2 GENERAL DISCUSSION BASED ON THE CONCEPT
If we deposit some money in a bank what benefit is
derived
If we borrow money from a bank we should pay
interest and in case of Drawings, Interest is to be charges on the
withdrawals made by the partners if it has been mentioned in the
Partnership Deed
RESPONSE / FEEDBACK
All students are interacted
and some students share
about this type of
experience
Most of the students
identified the concept
Students replied that we
get ‘interest
4. PHASE :- 2 DEVELOPMENTAL PHASE
ACTIVITY :- 3 GROUP DISCUSSION
Teacher divides the class in to some groups by
discussing about treatment of Drawings and Interest on Drawings and to
solve a confusion that is coming from the students to whom Interest on
Drawings is payable
Teacher explains the terms expressed by students
and give appropriate reinforcement to them
PHASE :- 3 CONCLUDING PHASE
During this phase Teacher shows Journal Entries to
the students using appropriate Chart & Placards
JOURNAL ENTRIES
1. When cash or goods are withdrawn by a partner
Drawings A/C Dr
To Cash or Purchase A/C
(Amount withdrawn for personal use)
2. For closing Drawings Account by transfer to Capital Account
Partner’s Capital A/C or Current A/C Dr
To Partners Drawings
(Drawings Account closed by transfer to Partners Capital A/C)
All group members were
positively respond and said
that Interest on Drawings is
payable by the partner to
the firm. On the basis of
previous knowledge they
said that Drawings A/C is a
Personal A/C and it is
debited
All students understand
and learn Journal Entries
5. 3. When some account withdrawn by a partner out of Capital
Partner’s Capital A/C Dr
To Cash A/C
4. To charge Interest on Drawings
Partner’s Capital A/C (Individually) Dr
To Interest on Drawings
(Interest charged on Partner’s Capital)
REVIEW QUESTIONS
1. What is drawings?
2. Define the meaning of Interest on Drawings?
FOLLOW UP ACTIVITIES
Raju and Balu are partners sharing profits and losses in the ratio 3:2 contributed Rs.1,00,000
and 80,000 respectively. During the year Raju withdraw Rs. 10,000 and Balu withdraw Rs.8,000
respectively. Interest on Drawings is charged @ 10%. Show necessary Journal Entries?
