Abid and Onik were in partnership sharing profit in the r...
Abid and Onik were in partnership sharing profit in the ratio 3 : 2. Their respective capitals were N4,000 and N2,000 and their drawings N1,800 and N1,200. Profit during the year was N5,400; before 5% interest on capital. No interest was chargeable on drawings. What was the balance carried down on Abid's current account?
N940
N1,460
N2,040
N3,060
N3,600
Correct answer is B
No explanation has been provided for this answer.