Homework Answers
Total income = 600000
Less : Unrealised profit = 52000
Net income = 548000
Thus, jackson's share = 548000*.35 = 191,800
Calculation of unrealised profit :
Closing stock = 312000
Cost of these goods oroginally = 312000/1.2 = 260000
Thus, unrealised profit = 312000 - 260000 = 52000
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