35. X and Y are partners in a firm. X is entitled to salary of 10,000 per month and commission of 10% of the profit after partners’ salaries but before charging commission. Y is entitled to a salary of 25,000 p.a. and commission of 10% of the net profit after charging all commission and partners’ salaries. Net profit before providing for partners’ salaries and commission for the year ended 31st March, 2025 was 4,20,000. Show distribution of profit.

Answer :

error: Content is protected !!