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Mudit,sudhir and uday r partners in a firm sharing profits in the ratio of 3:1:1. Their fixed capital balances r 40,000 ,1,60,000 and 1,00,000 respectively. Net profit for the year ended 31 March, 2018 distributed amongst the partners was 1,00,000 without taking into account the following adjustments: A. Intrest on capital @2.5 p.a B.salary to mudit 18,000p.a and commission to uday 12,000 . C. Mudit allowed commission of 6%of divisible profit after charging commission.?
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Mudit,sudhir and uday r partners in a firm sharing profits in the rati...
Partnership Profit Distribution:

Partners:
- Mudit
- Sudhir
- Uday

Profit Sharing Ratio:
- Mudit: 3
- Sudhir: 1
- Uday: 1

Fixed Capital Balances:
- Mudit: ₹40,000
- Sudhir: ₹1,60,000
- Uday: ₹1,00,000

Net Profit Distribution:
- Total Net Profit: ₹1,00,000

Adjustments:
A. Interest on Capital:
- Interest Rate: 2.5% per annum
- Interest on Mudit's Capital: ₹40,000 * 2.5% = ₹1,000
- Interest on Sudhir's Capital: ₹1,60,000 * 2.5% = ₹4,000
- Interest on Uday's Capital: ₹1,00,000 * 2.5% = ₹2,500

B. Salary and Commission:
- Salary to Mudit: ₹18,000 per annum
- Commission to Uday: ₹12,000 per annum

C. Additional Commission:
- Mudit allowed commission of 6% of divisible profit after charging commission

Calculation:

1. Interest on Capital:
- Mudit: ₹1,000
- Sudhir: ₹4,000
- Uday: ₹2,500

2. Salary and Commission:
- Mudit's Salary: ₹18,000
- Uday's Commission: ₹12,000

3. Net Profit After Adjustments:
- Total Net Profit: ₹1,00,000
- Interest on Capital: ₹1,000 + ₹4,000 + ₹2,500 = ₹7,500
- Salary and Commission: ₹18,000 + ₹12,000 = ₹30,000
- Divisible Profit: ₹1,00,000 - ₹7,500 - ₹30,000 = ₹62,500

4. Additional Commission:
- Mudit's Additional Commission: 6% of ₹62,500 = ₹3,750

5. Final Profit Distribution:
- Mudit: ₹62,500 + ₹3,750 = ₹66,250
- Sudhir: ₹62,500 / 5 * 1 = ₹12,500
- Uday: ₹62,500 / 5 * 1 = ₹12,500

Summary:
- Mudit's Share: ₹66,250
- Sudhir's Share: ₹12,500
- Uday's Share: ₹12,500
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Mudit,sudhir and uday r partners in a firm sharing profits in the ratio of 3:1:1. Their fixed capital balances r 40,000 ,1,60,000 and 1,00,000 respectively. Net profit for the year ended 31 March, 2018 distributed amongst the partners was 1,00,000 without taking into account the following adjustments: A. Intrest on capital @2.5 p.a B.salary to mudit 18,000p.a and commission to uday 12,000 . C. Mudit allowed commission of 6%of divisible profit after charging commission.?
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Mudit,sudhir and uday r partners in a firm sharing profits in the ratio of 3:1:1. Their fixed capital balances r 40,000 ,1,60,000 and 1,00,000 respectively. Net profit for the year ended 31 March, 2018 distributed amongst the partners was 1,00,000 without taking into account the following adjustments: A. Intrest on capital @2.5 p.a B.salary to mudit 18,000p.a and commission to uday 12,000 . C. Mudit allowed commission of 6%of divisible profit after charging commission.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Mudit,sudhir and uday r partners in a firm sharing profits in the ratio of 3:1:1. Their fixed capital balances r 40,000 ,1,60,000 and 1,00,000 respectively. Net profit for the year ended 31 March, 2018 distributed amongst the partners was 1,00,000 without taking into account the following adjustments: A. Intrest on capital @2.5 p.a B.salary to mudit 18,000p.a and commission to uday 12,000 . C. Mudit allowed commission of 6%of divisible profit after charging commission.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mudit,sudhir and uday r partners in a firm sharing profits in the ratio of 3:1:1. Their fixed capital balances r 40,000 ,1,60,000 and 1,00,000 respectively. Net profit for the year ended 31 March, 2018 distributed amongst the partners was 1,00,000 without taking into account the following adjustments: A. Intrest on capital @2.5 p.a B.salary to mudit 18,000p.a and commission to uday 12,000 . C. Mudit allowed commission of 6%of divisible profit after charging commission.?.
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