Question : Medhansh and Priyansh are Partners in a firm sharing profit and losses in the ratio of 3:2. On 31st March 2021 firm's net profit was 11,20,000. The Partnership deed provided interest on capital to Medhansh and Priyansh Rs 1,20,000 and Rs 80,000, respectively, and interest on Drawings for the year amounted to Rs 48,000 from Medhansh and Rs 32000 from Priyansh.
Medansh is entitled to a salary of Rs 1,20,000 p.a., while Priyansh is entitled to a commission @ 10% of net divisible profit.
Question:
Amount of Priyansh's commisssion will be

Option 1: Rs 88,000

Option 2: Rs 80,000

Option 3: Rs 1,00,000

Option 4: None of these

Question : Medhansh and Priyansh are Partners in a firm sharing profit and losses in the ratio of 3:2. On 31st March 2021 firm's net profit was 11,20,000. The Partnership deed provided interest on capital to Medhansh and Priyansh Rs 1,20,000 and Rs 80,000, respectively, and interest on Drawings for the year amounted to Rs 48,000 from Medhansh and Rs 32000 from Priyansh.
Medansh is entitled to a salary of Rs 1,20,000 p.a., while Priyansh is entitled to a commission @ 10% of net divisible profit.
Question:
Calculate the profit to be transferred to the partner's capital account.
 

Option 1: Rs 8,00,000

Option 2: Rs 8,80,000

Option 3: Rs 8,56,000

Option 4: Rs 7,20,000

Question : Medhansh and Priyansh are Partners in a firm sharing profit and losses in the ratio of 3:2. On 31st March 2021 firm's net profit was 11,20,000. The Partnership deed provided interest on capital to Medhansh and Priyansh Rs 1,20,000 and Rs 80,000, respectively, and interest on Drawings for the year amounted to Rs 48,000 from Medhansh and Rs 32000 from Priyansh.
Medansh is entitled to a salary of Rs 1,20,000 p.a., while Priyansh is entitled to a commission @ 10% of net divisible profit.
Question:
Calculate the profit to be transferred to the partner's capital account.
 

Option 1: Rs 8,00,000

Option 2: Rs 8,80,000

Option 3: Rs 8,56,000

Option 4: Rs 7,20,000

Question : X and Y are partners with capitals of Rs 3,00,000 and 2,50,000, respectively. They are entitled to interest on capital @ 6% p.a. The Firm earned a profit of Rs 55,000 after charging interest on capital. If the manager is entitled to 10% of net profit before charging his commission, the manager's commission will be

Option 1: Rs 3,200

Option 2: Rs 5,500

Option 3: Rs 4,000

Option 4: Rs 8,800

Question : X and Y are partners with capitals of Rs 3,00,000 and 2,50,000, respectively. They are entitled to interest on capital @ 6% p.a. The Firm earned a profit of Rs 55,000 after charging interest on capital. If the manager is entitled to 10% of net profit before charging his commission, the manager's commission will be

Option 1: Rs 3,200

Option 2: Rs 5,500

Option 3: Rs 4,000

Option 4: Rs 8,800

Question : X and Y are partners with capitals of Rs 3,00,000 and 2,50,000, respectively. They are entitled to interest on capital @ 6% p.a. The Firm earned a profit of Rs 55,000 after charging interest on capital. If the manager is entitled to 10% of net profit after charging his commission, the manager's commission will be

Option 1: Rs 8,000

Option 2: Rs 8,800

Option 3: Rs 3,200

Option 4: Rs 4,000