Question
Memoona, Komal, Sidrah, Ajmal, and Anum invested Rs. 4,666,090, Rs. 2,324,654, Rs. 4,888, 990, Rs. 5,199,120, Rs. 1,807,222 respectively in a joint business for two
Memoona, Komal, Sidrah, Ajmal, and Anum invested Rs. 4,666,090, Rs. 2,324,654, Rs. 4,888, 990, Rs. 5,199,120, Rs. 1,807,222 respectively in a joint business for two years. Order of being most experience and skilful in partners is Anum > (Komal=Ajmal) > (Sidrah=Memoona). Business earned gross income of Rs. 7,655,500, Rs. 6,050,555, and Rs. 1,000,400 in first three quarters respectively, while net income of 4th quarter is Rs. 3,444,222. Their salary expenses were Rs. 7,200,222 per anum and utility expenses were Rs. 6580 per day. They also paid Rs. 2,000,000 annual tax. At the end of 4th quarter, Anum left the business. Ajmal and Komal bought her share in ratio of 40:60. Remaining partners continued the business and earned profit of Rs. 3,000,000 after deducting the expenses of Rs. 2.5 mill at the end of 5th quarter. In the beginning of 6th quarter, they terminated Shirkah and collectively signed unrestricted Mudarabah contract with Nimrah on the condition that Nimrah's profit share would be 30% as Mudarib. With the permission of all rabb-ul-mals, Nimrah gave that amount to ABC Company on restricted Mudarbah basis on the condition that ABC will take 25% profit share and remaining will go to the Nimrah. Now XYZ earned net profit of Rs. 5 mill in first month and faced loss of Rs. 1 mill in second month of Mudarbah business. Keeping Islamic economic principles of profit and loss in mind, you are required to find out;
- How much profit/loss each partner will get/bear in first four quarters? 5
- How much profit/loss each partner will get/bear in 5th quarter? 5
How much profit/loss ABC, Nimrah and other partners will get/face in first two months of Mudarbah business?
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