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GOPAL AND KALU SHARE PROFITS EQULLY. GOPAL IS ENTITLED TO SALARY 2000 PER MONTH AND TOGETHER A COMMISSION OF 10% OF NET PROFIT BEFORE CHARGING COMMISION. KALLU IS ENTITLED TO A SALARY. THE PROFIT DURING THE YEAR ENDING MARCH 31,2015 WERE RS 1,84,000 DISTRUBUTE THE PROFIT BETWEEN GOPAL AND KALLU
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GOPAL AND KALU SHARE PROFITS EQULLY. GOPAL IS ENTITLED TO SALARY 2000 ...
Calculation of Profits:


  • Total Profit for the year ending March 31, 2015 = Rs 1,84,000



Calculation of Gopal's Earnings:


  • Gopal's Salary for the year = Rs 2000 x 12 = Rs 24,000

  • Gopal's Commission = 10% of Net Profit before charging Commission

  • Net Profit before charging Commission = Total Profit - Gopal's Salary = Rs 1,84,000 - Rs 24,000 = Rs 1,60,000

  • Gopal's Commission = 10% of Rs 1,60,000 = Rs 16,000

  • Total Earnings for Gopal = Salary + Commission = Rs 24,000 + Rs 16,000 = Rs 40,000



Calculation of Kallu's Earnings:


  • Kallu and Gopal share profits equally, so Kallu's share of the profits = Rs 1,84,000 / 2 = Rs 92,000

  • Salary of Kallu is not given, so assuming Kallu's salary to be zero

  • Total Earnings for Kallu = Share of Profits = Rs 92,000



Conclusion


  • Profit for the year ending March 31, 2015 = Rs 1,84,000

  • Gopal's Earnings = Rs 40,000 (Rs 24,000 Salary + Rs 16,000 Commission)

  • Kallu's Earnings = Rs 92,000

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GOPAL AND KALU SHARE PROFITS EQULLY. GOPAL IS ENTITLED TO SALARY 2000 PER MONTH AND TOGETHER A COMMISSION OF 10% OF NET PROFIT BEFORE CHARGING COMMISION. KALLU IS ENTITLED TO A SALARY. THE PROFIT DURING THE YEAR ENDING MARCH 31,2015 WERE RS 1,84,000 DISTRUBUTE THE PROFIT BETWEEN GOPAL AND KALLU
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GOPAL AND KALU SHARE PROFITS EQULLY. GOPAL IS ENTITLED TO SALARY 2000 PER MONTH AND TOGETHER A COMMISSION OF 10% OF NET PROFIT BEFORE CHARGING COMMISION. KALLU IS ENTITLED TO A SALARY. THE PROFIT DURING THE YEAR ENDING MARCH 31,2015 WERE RS 1,84,000 DISTRUBUTE THE PROFIT BETWEEN GOPAL AND KALLU for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about GOPAL AND KALU SHARE PROFITS EQULLY. GOPAL IS ENTITLED TO SALARY 2000 PER MONTH AND TOGETHER A COMMISSION OF 10% OF NET PROFIT BEFORE CHARGING COMMISION. KALLU IS ENTITLED TO A SALARY. THE PROFIT DURING THE YEAR ENDING MARCH 31,2015 WERE RS 1,84,000 DISTRUBUTE THE PROFIT BETWEEN GOPAL AND KALLU covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for GOPAL AND KALU SHARE PROFITS EQULLY. GOPAL IS ENTITLED TO SALARY 2000 PER MONTH AND TOGETHER A COMMISSION OF 10% OF NET PROFIT BEFORE CHARGING COMMISION. KALLU IS ENTITLED TO A SALARY. THE PROFIT DURING THE YEAR ENDING MARCH 31,2015 WERE RS 1,84,000 DISTRUBUTE THE PROFIT BETWEEN GOPAL AND KALLU.
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