Williams and Jacob are in partnership but there is no partnership agreement. The capital contributed are N60,000 and N40,000 respectively. Profit for the year is N20,000. Interest on capital is 10%. What is Jacob’s share of profit? by Sunday | Jun 5 | Accounting WAEC | 0 comments A. N10,000 B. N8,000 C. N5,000 D. N4,000 Correct Answer: Option C C. N5,000 Users Also Read These:Debtors value as at 1st January 2000 was N40,000.…Capital at start was N280,000, while at the end of…Williams and Jacob are in partnership but there is…Interest on capital is 10%. The net profit for the…Interest on drawings is 5%, interest on capital is…