Question on: JAMB Accounting - 2009
Given:
Net profit b/d.....................N10,000
Interest on capital:...M...........N2, 000
.......................K...........N1, 000
Partners' on salary....K...........N800
Interest on drawings...M...........N500
Profit sharing ratio M and K 3:2
Determine M's share of profit?
A
6,280
B
4,020
C
2,820
D
2,280
Ask EduPadi AI for a detailed answer
Correct Option: B
Add your answer
Please share this, thanks!
No responses