Home » Past Questions » Accounts » Given:Net profit b/d.....................₦10,000Interest on capital:...M..........

Given:Net profit b/d.....................₦10,000Interest on capital:...M..........


Question

Given:

Net profit b/d.....................₦10,000

Interest on capital:...M...........₦2, 000

.......................K...........₦1, 000

Partners' on salary....K...........₦800

Interest on drawings...M...........₦500

Profit sharing ratio M and K 3:2

Determine M's share of profit?

Options

A)
6,280
B)
4,020
C)
2,820
D)
2,280

The correct answer is B.


More Past Questions:


Discussion