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Seeta and geeta are partners sharing profit and losses in the ratio of 4:1 . Meeta was maneger who received the salary of 4000 per month .in addition to that she receives commission of 5% on net profits after Charging such commission . Profit's for the year is 678000 before charging salary. Find the total remuneration of meeta .?
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Seeta and geeta are partners sharing profit and losses in the ratio of...
Here's the solution to your question:

Total Salary= 4000*12= 48,000
Profits after Salary= 678000-48000= 6,30,000
Commission= 6,30,000*5/105= 30,000
Total Remuneration= 48000+ 30000= 780000

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Seeta and geeta are partners sharing profit and losses in the ratio of...
Given:

  • Seeta and Geeta are partners sharing profit and losses in the ratio of 4:1.

  • Meeta was a manager who received a salary of 4000 per month.

  • Meeta also receives a commission of 5% on net profits after charging such commission.

  • Profits for the year are 678000 before charging salary.



To find:

  • Total remuneration of Meeta



Solution:


Step 1: Calculation of Net Profits

As per the given information, Seeta and Geeta share profits in the ratio of 4:1. Let's calculate their share of profits first.

Seeta's share = 4/5 * 678000 = 542400

Geeta's share = 1/5 * 678000 = 135600

Now, let's deduct Meeta's salary from the total profits.

Net Profits = 678000 - (12 * 4000) = 630000

Step 2: Calculation of Meeta's commission

As per the given information, Meeta receives a commission of 5% on net profits after charging such commission.

Commission = 5% of (630000 - 5% of 630000) = 5% of 598500 = 29925

Step 3: Calculation of Total Remuneration of Meeta

Total Remuneration of Meeta = Salary + Commission = 48000 + 29925 = 77925

Answer:

Total Remuneration of Meeta = 77925
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Seeta and geeta are partners sharing profit and losses in the ratio of 4:1 . Meeta was maneger who received the salary of 4000 per month .in addition to that she receives commission of 5% on net profits after Charging such commission . Profit's for the year is 678000 before charging salary. Find the total remuneration of meeta .?
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Seeta and geeta are partners sharing profit and losses in the ratio of 4:1 . Meeta was maneger who received the salary of 4000 per month .in addition to that she receives commission of 5% on net profits after Charging such commission . Profit's for the year is 678000 before charging salary. Find the total remuneration of meeta .? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Seeta and geeta are partners sharing profit and losses in the ratio of 4:1 . Meeta was maneger who received the salary of 4000 per month .in addition to that she receives commission of 5% on net profits after Charging such commission . Profit's for the year is 678000 before charging salary. Find the total remuneration of meeta .? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Seeta and geeta are partners sharing profit and losses in the ratio of 4:1 . Meeta was maneger who received the salary of 4000 per month .in addition to that she receives commission of 5% on net profits after Charging such commission . Profit's for the year is 678000 before charging salary. Find the total remuneration of meeta .?.
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