Jumoke and Kunle have an original investment of N25,000 and N15,000 respectively in a partnership. The articles of partnership provides 3% interest on capital and salaries of N1,500 and N1,000 respectively for the partners. The profits and losses are to be shared in the ratio 3:2.
Miscellaneous expenses of N2,500 were incurred with gross profit of N6,500 during the financial year.
A. N4,000
B. N2,800
C. N1,500
D. 300
Correct Answer:
Option A – N4,000
Download Business Administration Project Topic PDF - Effects of Job Stress on Employee’s Performance in Evans Nigeria
₦300.00
Download Accountancy Project Topic PDF - Effect Of Cost Control On The Profit Of An Organization (A Case Study Viju Milk Industries Nigeria Limited)
₦400.00
Download Animal Production Journal Article PDF - Performance of Some Forage Rass Species in the Southern Guinea Savannah Agro-Ecological Zone in Nasarawa State of Nigeria
₦300.00
Download Conference Paper Article PDF - Video Summarization Based Handout Generation from Video Lectures: A Gesture Recognition Framework
₦300.00
Download Conference on Advanced Computer Theory Article PDF - Real-Time Mono Vision Gesture-Based Virtual Keyboard System
₦300.00
Copyright warnings! Do not copy.
