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Amrita and divya are the partners of a firm their capital ratio 3:2 amrita is to paid 8% commission on net profit after deduction of such commission what the amount will be received by Amrita if profit of the year is 96,876 .?
Most Upvoted Answer
Amrita and divya are the partners of a firm their capital ratio 3:2 am...
Profit and loss ac Dr 96876
To p/l appropriation ac 96876
p/l appropriation ac Dr 7176
To commission(amrita) 7176
(96876×8/108)
Divyaa's capital ac Dr 53820
Amrita's capital ac Dr 35880
To p/l appropriation ac 89700
so, the share of divisible profit received by amrita is 35880
and the total amount would be (35880+7176) 43056.
To p/l appropriation ac 96876
p/l appropriation ac Dr 7176
To commission(amrita) 7176
(96876×8/108)
Divyaa's capital ac Dr 53820
Amrita's capital ac Dr 35880
To p/l appropriation ac 89700
so, the share of divisible profit received by amrita is 35880
and the total amount would be (35880+7176) 43056.
Community Answer
Amrita and divya are the partners of a firm their capital ratio 3:2 am...
Calculation of Amrita's commission:
Given information:
- Capital ratio of Amrita and Divya = 3:2
- Profit of the year = $96,876
Step 1: Calculate the capital of Amrita and Divya
Let's assume the capital of Amrita as '3x' and the capital of Divya as '2x'.
The total capital would be 3x + 2x = 5x.
Step 2: Calculate Amrita's share of the profit
Amrita's share of the profit can be calculated using the capital ratio.
Amrita's share = (Amrita's capital / Total capital) * Profit
= (3x / 5x) * $96,876
= $58,125.60
Step 3: Calculate the commission of Amrita
Amrita's commission is 8% of the net profit after the deduction of commission.
Net profit after the deduction of commission = Profit - Commission
= $96,876 - ($96,876 * 8%)
= $96,876 - $7,750.08
= $89,125.92
Amrita's commission = Amrita's share * Commission rate
= $58,125.60 * 8%
= $4,650.05
Therefore, Amrita will receive $4,650.05 as her commission.
Summary:
- Amrita's share of the profit is $58,125.60.
- After deducting her 8% commission from the net profit, Amrita will receive $4,650.05.
Given information:
- Capital ratio of Amrita and Divya = 3:2
- Profit of the year = $96,876
Step 1: Calculate the capital of Amrita and Divya
Let's assume the capital of Amrita as '3x' and the capital of Divya as '2x'.
The total capital would be 3x + 2x = 5x.
Step 2: Calculate Amrita's share of the profit
Amrita's share of the profit can be calculated using the capital ratio.
Amrita's share = (Amrita's capital / Total capital) * Profit
= (3x / 5x) * $96,876
= $58,125.60
Step 3: Calculate the commission of Amrita
Amrita's commission is 8% of the net profit after the deduction of commission.
Net profit after the deduction of commission = Profit - Commission
= $96,876 - ($96,876 * 8%)
= $96,876 - $7,750.08
= $89,125.92
Amrita's commission = Amrita's share * Commission rate
= $58,125.60 * 8%
= $4,650.05
Therefore, Amrita will receive $4,650.05 as her commission.
Summary:
- Amrita's share of the profit is $58,125.60.
- After deducting her 8% commission from the net profit, Amrita will receive $4,650.05.
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Amrita and divya are the partners of a firm their capital ratio 3:2 amrita is to paid 8% commission on net profit after deduction of such commission what the amount will be received by Amrita if profit of the year is 96,876 .?
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Amrita and divya are the partners of a firm their capital ratio 3:2 amrita is to paid 8% commission on net profit after deduction of such commission what the amount will be received by Amrita if profit of the year is 96,876 .? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Amrita and divya are the partners of a firm their capital ratio 3:2 amrita is to paid 8% commission on net profit after deduction of such commission what the amount will be received by Amrita if profit of the year is 96,876 .? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Amrita and divya are the partners of a firm their capital ratio 3:2 amrita is to paid 8% commission on net profit after deduction of such commission what the amount will be received by Amrita if profit of the year is 96,876 .?.
Amrita and divya are the partners of a firm their capital ratio 3:2 amrita is to paid 8% commission on net profit after deduction of such commission what the amount will be received by Amrita if profit of the year is 96,876 .? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Amrita and divya are the partners of a firm their capital ratio 3:2 amrita is to paid 8% commission on net profit after deduction of such commission what the amount will be received by Amrita if profit of the year is 96,876 .? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Amrita and divya are the partners of a firm their capital ratio 3:2 amrita is to paid 8% commission on net profit after deduction of such commission what the amount will be received by Amrita if profit of the year is 96,876 .?.
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