Question

Salary or CO
31. Shiv Mohan and Gopal are partners sharing profits and losses in the ratio of 2:2: 1. Shiv is entitled to a
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.)​

Answer 1

Solution :

Commission of 10% on net Profit.

Net Profit = 1,10,000

Amount of Commission Payable to Shiv :

= 1,10,000 × ¹⁰/100

= 11,00,000 / 100

= 11,000

Commission Payable to Shiv = 11,000

Answer 2

Answer:

11000

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