N
Net profit -------------------------17,460
...
N
Net profit -------------------------17,460
Capital account: Taiwo--------50,000
Obi----------40,000
Drawings Account: Taiwo----12,000
Obi-------10,000
Salary - Obi---------------------1,500
Interest on capital--------------5%
Interest on drawings----------4%
Profit sharing ratio is 3:2 for Taiwo and Obi respectively
Obi's share of profit is...............
8,960
7,404
4,936
3,296
Correct answer is C
No explanation has been provided for this answer.
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