Use the following information to answer the question below
Ata. Bubu and Chikum were in partnership sharing profits and losses in proportion to their capital contributions:
| Capital | Drawings | |
| Ata | 40,000 | 8,000 |
| Bubu | 30,000 | 5000 |
| Chikum | 20,000 | – |
Net profit for the year was 40,500 and the interest on capital was 5% per annum.
A. N90,000
B. N40,500
C. N36,000
D. N27,500
Correct Answer:
Option C = N36,000
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.
Co-Ownership Structures and Land Acquisition Methods in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.
Rights in Community Land and Fundamental Land Concepts in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.
Customary Land Control and the Origins of Nigeria's Land Use Act
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.
Land Ownership Principles and Transaction Laws in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.
Copyright warnings! Do not copy.
