Question 23 Chapter 2 – Unimax Class 12 Part 1 – 2021

Question 23 Chapter 2 - Unimax Class 12 Part 1 - 2021

Question 22 Chapter 2 – Unimax Class 12 Part 1

23. A and B are partners in a firm. A is to get a commission of 10% of the net profit before charging way commissions. B is to get a commission of 10% of Net Profit after charging all commissions. Net profit before charging any commission was Rs. 55000. Find out commissions of A and B and Prepare P & L Appropriation A/c.

The solution of Question 23 Chapter 2 – Unimax Class 12 Part 1: 

Calculation of Commission Payable to A
10% of Net Profit before charging commission
Rs. 55000 x 10/100 = Rs. 5500

Commission Payable to B
10% of Net Profit after charging all commissions (Rs. 55000 – Rs. 5500) x 10/10
(Rs. 49500 x 10/110) = Rs. 4500

https://tutorstips.com/not-for-profit-organisations/

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

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