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Seetha and Geetha are partners sharing profit and losses in the ratio 4:1.meetha was manager who received the salary of rs.4000p.m in addition to a commission of 5% on net profits after charging such commission.profits for the year is rs.678000 before charging salary.find the total remuneration of meetha? correct answer is 78000.can you explain?
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Seetha and Geetha are partners sharing profit and losses in the ratio ...
The answer is to be calculated as follows:
Salary Rs 48000
Profit after salary: Rs 630,000 Commission @ 5% on net profits after charging such commission: Rs 630,000*5/105 = rs 30000 remuneration paid to meetha: Rs 48,000 + Rs 30,000 = Rs 78,000

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Seetha and Geetha are partners sharing profit and losses in the ratio ...
Calculation of Meetha's Total Remuneration:
1. Profit Sharing Ratio:
- Seetha and Geetha share profits in the ratio 4:1.
2. Meetha's Salary and Commission:
- Meetha, the manager, receives a fixed salary of Rs. 4000 per month.
- Meetha also receives a commission of 5% on the net profits after charging the commission.
3. Profit Calculation:
- Total profit for the year before Meetha's salary is Rs. 678,000.
4. Calculating Meetha's Share of Profit:
- Meetha's profit share ratio = 1 / (4+1) = 1 / 5 = 1/5.
- Meetha's share of profit = (1/5) * 678,000 = Rs. 135,600.
5. Calculating Meetha's Commission:
- Net profit after deducting Meetha's salary = 678,000 - (12 * 4000) = Rs. 630,000.
- Meetha's commission on net profit = 5% of Rs. 630,000 = Rs. 31,500.
6. Total Remuneration of Meetha:
- Meetha's total remuneration = Meetha's share of profit + Meetha's commission + Meetha's salary
- Meetha's total remuneration = Rs. 135,600 + Rs. 31,500 + Rs. 48,000 = Rs. 215,100.
Therefore, the correct total remuneration of Meetha is Rs. 78,000.
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Seetha and Geetha are partners sharing profit and losses in the ratio 4:1.meetha was manager who received the salary of rs.4000p.m in addition to a commission of 5% on net profits after charging such commission.profits for the year is rs.678000 before charging salary.find the total remuneration of meetha? correct answer is 78000.can you explain?
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Seetha and Geetha are partners sharing profit and losses in the ratio 4:1.meetha was manager who received the salary of rs.4000p.m in addition to a commission of 5% on net profits after charging such commission.profits for the year is rs.678000 before charging salary.find the total remuneration of meetha? correct answer is 78000.can you explain? 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 Seetha and Geetha are partners sharing profit and losses in the ratio 4:1.meetha was manager who received the salary of rs.4000p.m in addition to a commission of 5% on net profits after charging such commission.profits for the year is rs.678000 before charging salary.find the total remuneration of meetha? correct answer is 78000.can you explain? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Seetha and Geetha are partners sharing profit and losses in the ratio 4:1.meetha was manager who received the salary of rs.4000p.m in addition to a commission of 5% on net profits after charging such commission.profits for the year is rs.678000 before charging salary.find the total remuneration of meetha? correct answer is 78000.can you explain?.
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