Given:
Net profit b/d: ₦10,000
Interest on capital (M): ₦2, 000
Interest on capital (K): ₦1, 000
Partners’ on salary (K): ₦800
Interest on drawings (M) ₦500
Profit sharing ratio (M) and (K): 3:2
Determine M’s share of profit?
Options
A) 6,280
B) 4,020 >>>>>>>>>
C) 2,820
D) 2,280
The correct answer is B.
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