Abha, Bobby, and Vineet are partners sharing profits and losses equally. As per Partnership Deed, Vineet is entitled to a commission of 10% on the net profit after charging such commission. Net Profit before charging commission is ₹ 2,20,000.
Determine the amount of commission payable to Vineet.
Solution:
Worked as a lecturer , educator
I am a M. Com Gold Medalist from Osmania University in 1999. And a UGC NET Qualified in June 1999.
My passion and interest are in the areas of Accountancy & Financial Management. Over the last ~20 years, I have been teaching students (predominantly in Class XI, XII – All Boards and B. Com Students across Universities.