MyQuestionIcon

2

You visited us 2 times! Enjoying our articles? Unlock Full Access!

Partner's Capital Accounts

A, B and C ar...

Question

A, B and C are partners sharing profits and losses in the ratio of 2 : 2 : 1 respectively. A is entitled to a commission of 10% on the net profit. Net profit for the year is ₹ 1,10,000.
Determine the amount of commission payable to A.

Open in App

Solution

Net Profit before charging commission = Rs 1,10,000

Commission to A = 10% of on Net Profit before charging such commission

Suggest Corrections

thumbs-up

13

Similar questions

A, B

C

are partners sharing profits and losses in the ratio of

2 : 2 : 1

A

is entitled to a commission of 10% on the net profit. Net profit for the year is Rs. 1,10,000. Determine the amount of commission payable to

A

Q. X, Y and Z are partners sharing profits and losses equally. As per Partnership Deed, Z is entitled to a commission of 10% on the net profit after charging such commission. The net profit before charging commission is ₹ 2,20,000.
Determine the amount of commission payable to Z.

Q. X, Y and Z are partners sharing profits and lossed equally. As per partnership Deed, Z is entitled to a commission of 10% on the net profit after charging such commission. The net profit before charging commission is ₹ 2,20,000.
Determine the amount of commission payable to Z.

Q. Tom and Harry are partners sharing profits and losses in a ratio of 5 : 4. The net profit for the year is ₹2,40,000 before any appropriations. Tom is entitled for a salary of ₹20,000 p.a, and Harry is entitled for a commission at 5% of the net profit after charging salary and commission. Calculate the amount of commission.

[0.88 marks]

Q. X and Y are partners in a firm. X is entitled to a salary of ₹ 10,000 per month and commission of 10% of the net profit after partners' salaries but before charging commission. Y is entitled to a salary of ₹ 25,000 p.a. and commission of 10% of the net profit after charging all commission and partners' salaries. Net profit before providing for partners' salaries and commission for the year ended 31st March, 2019 was ₹ 4,20,000. Show distribution of profit.

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Analysing Capital Accounts

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Partner's Capital Accounts

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon