Amrita and Sumana signed partnership deed on 1st July, 2025. They agreed that Sumana will be entitled to a commission of 20% of the net profit after charging Amrita's salary of ₹ 5,000 per quarter and Sumana's commission
CS CSEET · Fundamentals of Accounting · PYQS · June 2026
Amrita and Sumana signed partnership deed on 1st July, 2025. They agreed that Sumana will be entitled to a commission of 20% of the net profit after charging Amrita's salary of ₹ 5,000 per quarter and Sumana's commission. The net profit before charging Amrita's salary and Sumana's commission for the year ended 31st March, 2026 was ₹ 3,15,000. Calculate Sumana's commission.
Topics: Partnership Accounts
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