[CBSE] Q. 36 solution of Fundamentals of Partnership Firms TS Grewal Book 2023-24 Edition

Share your love

Are you looking for the solution of Question number 36 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2023-24 Edition?

Question number 36 of Accounting for Partnership Firms – Fundamentals is a theoretical one.

Solution of Question number 36 of Accounting for Partnership Firms – Fundamentals TS Grewal Book CBSE 2023-24 Edition

Q. 36

X and Y are partners in a firm. X is entitled to a salary of ₹ 10,000 per month and a commission of 10% of the net profit after the partner’s salaries but before charging the commission. Y is entitled to a salary of ₹ 25,000 p.a. and a commission of 105 of the net profit after charging all commission and partner’s salaries. Net Profit before providing for partner’s salaries and commission for the year ended 31st March 2023 was ₹ 4,20,000. Show distribution of profit.

[Ans: X’s Commission – ₹ 27,500; Y’s Commission – ₹ 22,500; Net Profit – ₹ 2,25,000; S X and Y’s Share – ₹ 1.12,500 each.]

[Hint: Y’s Commission – 10/110 of ₹ 2,47,500 (i.e., ₹ 4,20,000 – ₹ 1,20,000 (X’s Salary) – ₹ 25,000 (Y’s Salary) – ₹ 27,500 (X’s Commission)).]

Solution:-

Here is the list of all Solutions.

S.NQuestions
1Question – 1
2Question – 2
3Question – 3
4Question – 4
5Question – 5
6Question – 6
7Question – 7
8Question – 8
9Question – 9
10Question – 10
S.NQuestions
11Question – 11
12Question – 12
13Question – 13
14Question – 14
15Question – 15
16Question – 16
17Question – 17
18Question – 18
19Question – 19
20Question – 20
S.NQuestions
21Question – 21
22Question – 22
23Question – 23
24Question – 24
25Question – 25
26Question – 26
27Question – 27
28Question – 28
29Question – 29
30Question – 30
S.NQuestions
31Question – 31
32Question – 32
33Question – 33
34Question – 34
35Question – 35
36Question – 36
37Question – 37
38Question – 38
39Question – 39
40Question – 40
S.NQuestions
41Question – 41
42Question – 42
43Question – 43
44Question – 44
45Question – 45
46Question – 46
47Question – 47
48Question – 48
49Question – 49
50Question – 50
S.NQuestions
51Question – 51
52Question – 52
53Question – 53
54Question – 54
55Question – 55
56Question – 56
57Question – 57
58Question – 58
59Question – 59
60Question – 60
S.NQuestions
61Question – 61
62Question – 62
63Question – 63
64Question – 64
65Question – 65
66Question – 66
67Question – 67
68Question – 68
69Question – 69
70Question – 70
S.NQuestions
71Question – 71
72Question – 72
73Question – 73
74Question – 74
75Question – 75
76Question – 76
77Question – 77
78Question – 78
79Question – 79
80Question – 80
S.NQuestions
81Question – 81
82Question – 82
83Question – 83
84Question – 84
85Question – 85
86Question – 86
87Question – 87
88Question – 88
89Question – 89
90Question – 90
S.NQuestions
91Question – 91
92Question – 92
93Question – 93
94Question – 94
95Question – 95
Share your love
Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his youtube channel and can download the Android & ios app for free lectures.

Articles: 5466

Leave a Reply

Your email address will not be published. Required fields are marked *

close

Ad Blocker Detected!

Our Website is made possible by displaying online advertisements to our visitors. Please consider supporting us and remove the AD - Blocker to read this article.

Refresh