Buhari and Osinbajo are in partnership with the following...
Use the information below to answer this question.
Buhari and Osinbajo are in partnership with the following partnership agreement
Buhari Osinbajo
Capital 40, 000 70, 000
Salary 10, 000 15, 000
Int.on capital 5% 5%
Profit/loss sharing ratio 40 : 60
The net profit for the year ended is N80,000.
"Drawings are N80, 000 and N12, 000 for Buhari and Osinbajo respectively"
What is Osinbajo share of profit?
N19,800
N49,500
N48,000
N29,700
Correct answer is D
No explanation has been provided for this answer.
Which of the following is the basis of accounting in the Civil Service? ...
A trader bought goods worth #16,000 and sold three-quarter of it for #20,000 The gross profit is ...
The current growth in the volume of trading and financial dealings in Nigeria is helped by? ...
Which of the following is not charged to Manufacturing Account? ...
Interest on a partner's drawings is debited to the ...
Partly manufactured goods are treated in the balance sheet of a manufacturing company as ...
Use the following information to answer the given question \(\begin{array}{c|c} & ₦\\ \hl...
Accounts can be classified into ...
The stock valuation data is important because it enables management to? ...