The NBC Company reports net income of $60,000. If partners N, B, and C have an income ratio of 50%, 30%, and 20%, respectively, C's share of the net income is _____?
Answer: $12,000
Explanation
To determine C's share of the net income:
Calculate C's share:
- C's Share = Net Income × C's Ratio
- C's Share = $60,000 × 20%
- C's Share = $60,000 × 0.20 = $12,000
So, C's share of the net income is $12,000.
This question appeared in
Past Papers (2 times)
Account Officer Past Papers, Syllabus, Jobs (1 times)
SPSC Past Papers (1 times)
This question appeared in
Subjects (1 times)
ACCOUNTING (1 times)
Related MCQs
- If the total monthly income of 16 persons is Rs. 80800 and the income of the one of them is 120 % of the average income, then his income is
- For the purpose of imposition of tax and the computation of total income , all income has been classified under the ___ heads in section 11 of the Income Tax ordinance .
- A man pays 10% of his income as income tax. If his income tax amounts to Rs. 1500, what is his income?
- The ratio of the income of Ali and Anwarnthe ratio 5: 4 and the ratio of their expenditures is 3: 2. If at the end f the year, each saves Rs. 1600, then their income of Anwar is:
- A businessman earns an income of PKR 1 on the first day of his business. On every subsequent day, he earns an income which is just double of that made on the previous day. On the 10th day of business, his income in PKR is ______?
- The average income of A and B is 50000 and average income of B and C is 60000 and Average income of A and C is 55000. What is the income of B?
- The man’s taxable income is Rs. 14,280/-. The state tax instructions tell him to pay 2% on the first Rs. 3000/- of his taxable income, 3% on each of the second and third Rs. 3000/- and 4% on the remainder. What is the total amount of income tax that he must pay?
- Calculate the income tax of a person whose salary is Rs. 6000 per month. The income tax is 5% and rebate is Rs. 50000?
- Disposable income is the part of household's income left after the deduction of _______?
- A man spends 35% of his income on food, 25% on children's education and 80% of the remaining on the house rent. What percentage of his income he is left with?
