The Managing Director of Desi Manufacturing Ltd. is entitled to a the profits before charging such...
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The Managing Director of Desi Manufacturing Ltd. is entitled to a the profits before charging such commission. . commission of 5% on Following details are available for the year ending 31-3-2022: (i) Net-Profit before charging the commission 35,00,000. (ii) Following had been charged off against the profits as determined in (i) above: (a) Depreciation on Fixed Assets 14,50,000 (6) Provision for bad and doubtful debts 16,000. (iii) Other relevant information : (a) Bad debts during the year 57,000 (b) Depreciation for calculation for managerial remuneration 17,80,000. Compute the commission payable to the Managing Director. The Managing Director of Desi Manufacturing Ltd. is entitled to a the profits before charging such commission. . commission of 5% on Following details are available for the year ending 31-3-2022: (i) Net-Profit before charging the commission 35,00,000. (ii) Following had been charged off against the profits as determined in (i) above: (a) Depreciation on Fixed Assets 14,50,000 (6) Provision for bad and doubtful debts 16,000. (iii) Other relevant information : (a) Bad debts during the year 57,000 (b) Depreciation for calculation for managerial remuneration 17,80,000. Compute the commission payable to the Managing Director.
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Related Book For
Financial Accounting and Reporting
ISBN: 978-0273744443
14th Edition
Authors: Barry Elliott, Jamie Elliott
Posted Date:
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