PLEASE sOLVE THIS..................cALCULATE ONLY B'S COMMISSION.......................
A & B are partners Sharing Profits and losse in the ratio 3:1 .capitals of A & B 50,000, 30,000 During the year the earned profit 50,000. The term of partnership are as folloews:
1) A will get a Commision 2% on turnover
b) Intrest on Capital is to be Charged @ 6% p.a
c) B will get a Salary Rs. 500 P.M
d) B will get Commision of 5% on profit after deduction of all expenses including Such Commision
Partner's Drawings for the year were A Rs. 8,000 B Rs. 6,000. Turnover for the year was Rs 3,00,000
WHAT AMOUNT OF COMMISSION IS TO BE SHOWN IN P&L APPROPRIATION A/C
COMMISSION......................??
ANS......IS .....1581..........HOW IT CAN BE.......PLS EXPLAIN IN DETAIL.....................!!
CAclubindia
