Question

Puneet and Raju are partners in a clay toys making firm. Their capitals were ₹ 5,00,000 and ₹ 10,00,000 respectively. The firm allowed Puneet to get a commission of 10% on the net profit before charging any commission and Raju to get a commission of 10% on the net profit after charging all commissions. Following is the Profit and Loss Appropriation Account for the year ended 31st March 2022.

Dr.	Profit and Loss Appropriation Account for the year ended 31st March 2022		Cr.
Particulars	Amount (₹)	Particulars	Amount (₹)
To Puneet’s Capital A/c (Commission) (------ x 10/100)	44,000	By Profit and Loss A/c	______
To Raju’s Capital A/c (Commission)	______
To Profit share transferred to:-
Puneet’s Capital A/c	______
Raju’s Capital A/c	______
	______		______

Puneet’s share of profit will be ______.

Options

• ₹ 1,80,000

• ₹ 1,44,000

• ₹ 2,16,000

• ₹ 1,60,000

Answer 1

Puneet’s share of profit will be ₹ 1,80,000.