Mock 1 Task 2

sophie_612
sophie_612 LondonRegistered Posts: 136
Hi , please can anyone help me understand how they worked out the profit share for after 1 aug 20.

Thanks
Sophie

Comments

  • Pian32
    Pian32 MAAT Posts: 472
    Couple of steps : 1st Profit is split between the 2 periods

    Up to July - 4/12 * 71460 = 23,820 Split for July 17865 , 5955
    Up to August - 8/12 * 71460 = 47,640

    The 47640 then needs to be adjusted for the salary and interest since this is part of the question it makes sense to work them out first.

    Interest

    15000 *0.03 *8/12 = 300
    6000 * 0.02 *8/12 = 80

    Salary

    9000 * 8/12 = 6000
    4500 * 8/12 = 3000

    Profit

    47460 - 300 - 80 -6000 -3000 = 38260

    Apportion = 24869 , 13391

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    sophie_612
  • storres
    storres Registered Posts: 8
    Thank you @Pian32
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