The Partnership Agreement between Mahesh and Ramesh provides that:
i) profits will be shared equally.
ii) Mahesh will be allowed a salary 7400 per month.
iii) Ramesh is allowed a commission @ 10% on net profits before adjusting any remuneration,
iv) 10% per annum interest will be charged on drawings.
(v) Their annual drawings were 16,000 and 14,000 respectively.
Net profit before above adjustments are 40000. Calculate profits to be distributed between partners:
a) 34,200
b) 32,700
c) 47,300
d) 29,700
Answers
Answer:
Justin Bieber printed 12000 copies of his poster for $60000. He distributed 16.66% of the posters freely as specimen copy and sold 40% of the remaining posters at 20% discount. He sold the rest at 10% discount on $10 per copy. What is the overall gain or loss in the first’s issue of the poster, if the poster could not realize the income from advertisement or other sources?
Answer choices
Select only one option
27% loss
16.66% loss
54% profit
60% profit
Explanation:
Justin Bieber printed 12000 copies of his poster for $60000. He distributed 16.66% of the posters freely as specimen copy and sold 40% of the remaining posters at 20% discount. He sold the rest at 10% discount on $10 per copy. What is the overall gain or loss in the first’s issue of the poster, if the poster could not realize the income from advertisement or other sources?
Answer choices
Select only one option
27% loss
16.66% loss
54% profit
60% profitJustin Bieber printed 12000 copies of his poster for $60000. He distributed 16.66% of the posters freely as specimen copy and sold 40% of the remaining posters at 20% discount. He sold the rest at 10% discount on $10 per copy. What is the overall gain or loss in the first’s issue of the poster, if the poster could not realize the income from advertisement or other sources?
Answer choices
Select only one option
27% loss
16.66% loss
54% profit
60% profitJustin Bieber printed 12000 copies of his poster for $60000. He distributed 16.66% of the posters freely as specimen copy and sold 40% of the remaining posters at 20% discount. He sold the rest at 10% discount on $10 per copy. What is the overall gain or loss in the first’s issue of the poster, if the poster could not realize the income from advertisement or other sources?
Answer choices
Select only one option
27% loss
16.66% loss
54% profit
60% profit