The residual profit of the business for the year is

Use the following information below to answer this question.

Attama and Wawa were in partnership sharing profits and losses in the ratio 4:3. Attama was entitled to a salary of D13,000 per annum. A net profit of D34,000 was made for the year.

A. D47,000
B. D34,000
C. D22,000
D. D21,000

Correct Answer:

Option A = D47,000