From the following particulars of Sriman Ltd., calculate the remuneration of Managing Director at 5% of net profit. a) Remuneration of Managing Director 10,000 b) Provision for bad debts 5,000 C) Provision for tax 75,000 d) Depreciation written off 40,000 e) Loss on sale of investments 35,000 f) Depreciation allowable as per income-tax provisions 35,000 g) Net profit after considering the above items 2,25,000
From the following particulars of Sriman Ltd., calculate the remuneration of Managing Director at 5% of net profit. a) Remuneration of Managing Director 10,000 b) Provision for bad debts 5,000 C) Provision for tax 75,000 d) Depreciation written off 40,000 e) Loss on sale of investments 35,000 f) Depreciation allowable as per income-tax provisions 35,000 g) Net profit after considering the above items 2,25,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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From the following particulars of Sriman Ltd., calculate the remuneration of Managing Director at 5% of net profit.
a) Remuneration of Managing Director 10,000
b) Provision for
C) Provision for tax 75,000
d)
e) Loss on sale of investments 35,000
f) Depreciation allowable as per income-tax provisions 35,000
g) Net profit after considering the above items 2,25,000
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