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Use the information below to answer this question.Buhari and Osinbajo are in par...


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Use the information below to answer this question.

Buhari and Osinbajo are in partnership with the following partnership agreement

Buhari Osinbajo

Capital 40, 000 70, 000

Salary 10, 000 15, 000

Interest on capital 5% 5%

Profit/loss sharing ratio 40 60 The net profit for the year ended is ₦80,000.

"Drawings are ₦80, 000 and ₦12, 000 for Buhari and Osinbajo respectively"

What is Osinbajo share of profit?

Options

A)
₦19, 800
B)
₦49, 500
C)
₦48, 000
D)
₦29, 700

The correct answer is D.


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