FUNDAMENTALS OF PARTNERSHIP-PARTNER'S COMMISSION (BEFORE/AFTER CHARGING ON NET PROFIT)Class-12

FUNDAMENTALS OF PARTNERSHIP-PARTNER'S COMMISSION (BEFORE/AFTER CHARGING ON NET PROFIT)Class-12 Accounts Part-7 Salary or Commission to Partners Instagram Link : https://www.instagram.com/manojsharma... 33. Shiv, Mohan and Gopal are partners sharing profits and losses in the ratio of 2: 2 : 1. Shiv is entitled to commission of 10% on the net profit. Net profit for the year is 1,10,000. Determine the amount of commission payable to Shiv. [Ans.: Commission payable to Shiv-₹11,000.] 34. Abha, Bobby and Vineet are partners sharing profits and losses equally. As per Partnership Deed, Vineet is entitled to commission of 10% on the net profit after charging such commission. Net profit before charging commission is 2,20,000. Determine the amount of commission payable to Vineet. [Ans.: Commission payable to Vineet-₹20,000.] A and B are partners in a firm. A is entitled to a salary of ₹15,000 p.m. and a commission of 10% of net profit before charging any commission. B is entitled to a commission of 10% of net profit after charging his commission. Net profit for the year ended 31st March 2022 was ₹4,40,000. You are required to show the distribution of profit.