11. Calculate, the managerial remuneration from the following particulars of Roger and Company Ltd. due to managing director of the company at the rate of 5% of the profits. Also determine the excess remuneration paid, if any Net Profit Net profit is calculated after considering the following: (i) Depreciation 2,00,000 40,000 (ii) Preliminary expenses 10,000 (iii) Tax provision 3,10,000 (iv) Directors' fees 8,000 (v) Bonus 15,000 (vi) Profit on sale of fixed assets (original cost $. 20,000 written down 15,500 value $ 11,000). (vii) Provision for doubtful debts 9,000 (viii) Scientific research expenditure (for setting up new machinery) 20,000 (ix) Managing director's remuneration paid Other information : 30,000 Depreciation allowable under schedule XIV of the companies act Bonus liability as per Payment of Bonus Act,965 35,000 18,000