English
Tamil Nadu Board of Secondary EducationHSC Commerce Class 12
Textbook Solutions8116
Concept Notes14
Syllabus

Profit after interest on drawings, interest on capital and remuneration is ₹ 10,500. Geetha, a partner, is entitled to receive commission @ 5% on profits after charging such commission. - Accountancy

Advertisements
Advertisements

Question

Profit after interest on drawings, interest on capital and remuneration is ₹ 10,500. Geetha, a partner, is entitled to receive commission @ 5% on profits after charging such commission. Find out commission.

Options

  • ₹ 50

  • ₹ 150

  • ₹ 550

  • ₹ 500

MCQ

Solution

₹ 500

shaalaa.com
Salary and Commission to Partners
  Is there an error in this question or solution?
Q I 10.
Chapter 3: Accounts of partnership firms–fundamentals - Multiple choice questions [Page 111]

APPEARS IN

Samacheer Kalvi Accountancy [English] Class 12 TN Board
Chapter 3 Accounts of partnership firms–fundamentals
Multiple choice questions | Q I 10. | Page 111

RELATED QUESTIONS

Janani, Kamali and Lakshmi are partners in a firm sharing profits and losses equally. As per the terms of the partnership deed, Kamali is allowed a monthly salary of ₹ 10,000 and Lakshmi is allowed a commission of ₹ 40,000 per annum for their contribution to the business of the firm. You are required to pass the necessary journal entry. Assume that their capitals are fluctuating.


Share
Notifications

Englishहिंदीमराठी
Login
Create free account


      Forgot password?
Course
Use app×
Our website is made possible by ad-free subscriptions or displaying online advertisements to our visitors.
If you don't like ads you can support us by buying an ad-free subscription or please consider supporting us by disabling your ad blocker. Thank you.