Z Ltd. was formed on 1 st May 2000 and it obtained the certificate of commencement of
Z Ltd. was formed on 1st May 2000 and it obtained the certificate of commencement of business on 1st June 2000. It acquired a running business, with effect from 1st January 2000. Books were closed on 30th September 2000, when it was found that the net profit was ₹2,00,000 with a gross profit of ₹4,50,000. Director’s remuneration was ₹34,000. Sales in the months January to June per month were ½ of the sales per month in the remaining months. What profit is available to the company for declaration of dividend?
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