\(\begin{array}{c|c} & J. Chike & B. Balla \\ &am...
Use the following information to answer the given question
\(\begin{array}{c|c} & J. Chike & B. Balla \\ & N & N \\ \hline \text{Current Accounts balance(1/4/98)} & 4,000 & 6,000 \\ \text{Current Accounts balance (1/4/99)} & 7,000 & \text{?} \\ Drawings & 1,500 & 1,500 \\ \text{Share of net profit} & \text{?} & 2,500 \end{array}\)
Their profit sharing ratio is
1 : 8 : 1
1 : 5 : 1
1 : 25 : 1
1 : 1
Correct answer is B
No explanation has been provided for this answer.
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