Question
Pooja and Meena are partners in a business. Pooja
(working) puts in Rs. 6000 and Meena (sleeping) puts in Rs. 4000. Pooja receives 20% of the profit for managing the business, and the rest is divided in proportion to their capitals. What amount does Pooja receive out of the total profit of Rs. 1000?Solution
Investment Ratio: Pooja: Meena = 6000: 4000 = 3: 2. Total Profit= Rs. 1000. Pooja's Management Share= 1000 × 20% = 200 Rs. Remaining Profit= 1000 - 200 = 800 Rs. Proportional Distribution Ratio = 3: 2. Total Ratio Units= 3 + 2 =5. Pooja's Share of Remaining Profit= 800×3/5= 480 Rs. Total Amount Received by Pooja= 200 + 480 = 680 Rs.
A’s acceptance to B for Rs. 5,000 is discharged by a cash payment of Rs.3000 and a new bill is drawn for the balance plus Rs.100 for interest. The am...
A company follows the accrual basis of accounting and recognizes revenue when the goods are dispatched, not when cash is received. However, in its final...
V Ltd. sells Customer C a water purifier and maintenance service for 2 years for a total consideration of Rs 20,000. As per IND AS 115, determine how m...
In relation to Accounting Standards, Which of the following statement is incorrect?
A company has a standard direct material cost of ₹10 per unit. Actual cost incurred was ₹12 per unit for 1,000 units. 950 units were actually produc...
_______ is also known as General Ledger Adjustment Account.
Which of the following is an example of “tangible assets”?
To study the trends in a firm’s cost of goods sold (COGS), the analyst should standardize the cost of goods sold numbers to common size basis by divi...
If the fixed cost is Rs.43,500 and the company, the contribution is Rs.500 per unit, how many unit sales would a company need to do to earn a profit of ...
Project A has cash flows of ₹-10 lakh (initial), ₹3L, ₹4L, ₹5L over 3 years. Project B has the same initial investment but generates ₹6L, ₹4...
Relevant for Exams:
