[ISC] Q. 46 Solution of Fundamentals of Partnership Firms TS Grewal Book ISC (2026-27)
Solution of Question number 46 of the Fundamentals of Partnership Accounts (Firm) chapter TS Grewal Book 2026-27 Edition ISC Board.
Amar and Anthony are partners in a firm. Amar is entitled to a salary of ₹ 20,000 per month and a commission of 10% of the net profit before charging any commission.
Anthony is entitled to a salary of ₹ 50,000 p.a. and a commission of 10% of the net profit after charging salary and all commissions.
Profit after partner’s salaries but before charging any commission for the year ended 31st March 2024 was ₹ 5,50,000.
Show the distribution of profit.
Solution:-
