Question

*PL Appropriation Sum* "P and Q are partners sharing profits/losses in the ratio 5:4. On 1/4/17, they admitted the manager R for 1/5th share in profits. R was receiving a salary of Rs. 60,000/- p.a. and a commission of 5% on the net profit after charging such salary and commission. It is agreed that any excess of his previous remuneration to which R becomes a partner is to be borne by Q. The profits of the firm for the year ended 31/3/18 amounted to Rs. 4,27,500/-. You are required to show the profit division." The answer is given as P = Rs. 1,94,444/-, Q = Rs. 1,47, 556/- and R = Rs. 85,500. I have tried innumerable times to work out this sum but never got these figures. Somebody please assist if you have the solution.

Answer 1

Explanation:

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Answer 2

Answer:

The above answer is absolutely right dear.....