Question

manager's commission.
Ans. [20,000]
METHODI
2. Following information is available of X Limited for the year ended 31st March, 2019 before
providing for the following:
(a) Director's Commission of 1 per cent on Net Profit after charging such commission.
(6) Managerial Commission of 10 per cent on Net Profit after charging such commission.
₹
₹
To Depreciation on Fixed Assets 30,000 By Gross Profit
5,00,000
Compensation (voluntary)
5,000 Profit on Investment Sold
Other Expenses
3,40,000 (non-trading)
20,000
Net Profit
1,45,000
5,20,000
5.20,000
2
57
M
Note. Depreciation allowable for income-tax purposes amount to 25,000.
- Calculate (a) the managerial commission and (6) Net Profit due in accordance with the
provisions of the Companies Act, 2013.
Ans. [(a) 12,162 (6) 1,21,622]
3. The Manager of M/s Slow and Steady Ltd. is entitled to get a sa 25,000 per month
plus 1% commission on the net profits of the company after su
and commission.
Following is the information of the company for the уг nded
₹ F
₹ F
To Salaries, Wages and
By C
fit
11,70,000
Bonus
1,92,500 By S
60,000
on​

Answer 1

Answer:

manager's commission.

Ans. [20,000]

METHODI

2. Following information is available of X Limited for the year ended 31st March, 2019 before

providing for the following:

(a) Director's Commission of 1 per cent on Net Profit after charging such commission.

(6) Managerial Commission of 10 per cent on Net Profit after charging such commission.

₹

₹

To Depreciation on Fixed Assets 30,000 By Gross Profit

5,00,000

Compensation (voluntary)

5,000 Profit on Investment Sold

Other Expenses

3,40,000 (non-trading)

20,000

Net Profit

1,45,000

5,20,000

5.20,000

2

57

M

Note. Depreciation allowable for income-tax purposes amount to 25,000.

- Calculate (a) the managerial commission and (6) Net Profit due in accordance with the

provisions of the Companies Act, 2013.

Ans. [(a) 12,162 (6) 1,21,622]

3. The Manager of M/s Slow and Steady Ltd. is entitled to get a sa 25,000 per month

plus 1% commission on the net profits of the company after su

and commission.

Following is the information of the company for the уг nded

₹ F

₹ F

To Salaries, Wages and

By C

fit

11,70,000

Bonus

1,92,500 By S

60,000