Ata, Bubu and Chikum were in partnership sharing pro...
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
Bubu's share of profit is
N16,000
N12,000
N8,000
N4,000
Correct answer is B
No explanation has been provided for this answer.
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