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Abid and Onik were in partnership sharing profit in the ratio 3 : 2. Their respe...


Question

Abid and Onik were in partnership sharing profit in the ratio 3 : 2. Their respective capitals were ₦4,000 and ₦2,000 and their drawings ₦1,800 and ₦1,200. Profit during the year was ₦5,400; before 5% interest on capital. No interest was chargeable on drawings. What was the balance carried down on Abid's current account?

Options

A) ₦940

B) ₦1,460

C) ₦2,040

D) ₦3,060

E) ₦3,600

The correct answer is A.


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