Sule and Ahmed are in partnership sharing profit and losses equally. If Khadija is admitted as a new partner to take 1/5 th as her share. What is the new profit or loss sharing?

By: |Published on: Nov 28|Categories: Accounting JAMB| 0 comments

A. Sule1/3, Ahmed1/3, Khadija 1/3
B. Sule1/3, Ahmed1/3, Khadija 1/3
C. Sule1/5, Ahmed1/5, Khadija3/5
D. Sule2/5, Ahmed1/5, Khadija2/5

Correct Answer:

Option B – Sule1/3, Ahmed1/3, Khadija 1/3

Explanation

If Khadija is to take 1/5th i.e. 20%

Sule and Ahmed are to share 80% (100% – 20%) equally

Sule = 2/5

Ahmed = 2/5

Khadija = 1/5

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