Ata, Bubu and Chikum were in partnership sharing profits ...
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.
The profit available for sharing by the partners is
N90,000
N40,500
N36,000
N27,500
Correct answer is C
No explanation has been provided for this answer.
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