A firm pays commission to its manager @10%on profits arrived at after charging such commission.What will be the amount of commission if the profits before charging such commission is Rupee 22,000?
- 2 Answers
- 3257 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / sarvjeet
Suppose Profit after commission is "a". Then commission would be "a X 10 /100 = 0.1a". It means profit before charging commission would be "a + 0.1a". Now. "a + 0.1a" = 22000; as given in problem. Solving this equation we get 1.1a = 22000. It means a = 22000/1.10. Or a = 20000. Since "a" was assumed to profit after commission in the starting. Amount of commission would be 20000*10% = 2000
| Is This Answer Correct ? | 0 Yes | 0 No |
ABC Ltd is a company. Can ABC ltd send debit note to debtors?. what are you situation to send debit note to debtors ?
I have a questions regarding booking transaction. what is I want to loan my company 10k transaction will be recorded as follows "CASH" 10k debit "Payable to partner" 10K as credit. So when I used company debit card for my personal use can I book this as a loan repayment? which means I will have to Debit account " Payable to Partner and credit "Cash"
case flow
When did Bonus shares issued?
is we can prepare any account for partnership in tally
The following figures relate to the trading activities of M/s ABC Traders Ltd for the year ending 31 March 2004. Particulars Amount (Rs) Sales 5,20,000 Opening stock 76,250 Purchases 3,22,250 Closing stock 98,500 Sales return 20,000 Selling and Distribution Expenses Salaries 15,300 Advertising 4,700 Travelling 2,000 Administrative Expenses Salaries 27,000 Rent 2,700 Stationery 2,500 Depreciation 9,300 Other charges 16,500 Provision for tax 4,000 Non Operating Income Dividend on shares 9,000 Profit on sales of shares 3,000 Non Operating Expenses Loss on sale of fixed asset 4,000 You are required to: (i) Arrange the above figures in a form suitable for analysis. (ii) Show separately the following ratios. Net profit ratio Operating ratio Stock turnover ratio
What is invoice processing can u explain it?
what is DOUBLE TAXATION
2 Answers MoveiT Infra Services,
Please would you provide me with a defenition of Cycle count tolerance ? Thank you
What is general entries for Deffered Tax?
Scheme is given by a company to his distributors on sale of goods, what is the treatment of this scheme distributors hand Direct income or indirect income
differ the revenue expenditure and capital expenditure
Audit 
