ABC Ltd. was formed on 1 st May 2008 and it obtained the certificate of commencement of business on 1
ABC Ltd. was formed on 1st May 2008 and it obtained the certificate of commencement of business on 1st June 2008. It acquired a running business with effect from 1st January 2008. Books were closed on 30th September 2008 when it was found that the net profit was ₹1,50,000 with a gross profit of ₹3,37,500. Director’s remuneration was ₹34,000. Sales during the months January to June per month were half of the sales per month in the remaining months. What profit is available to the company for declaration of dividend?
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