Mock 1 Task 2

sophie_612

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

Thanks
Sophie

Pian32

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

storres

Thank you @Pian32