Faruk and Osawe are in partnership sharing profits and losses in the ratio of 3:7. Faruk is to receive a salary of N9 000. In one accounting period, the business recorded a loss of N1 500 (before deduction of Faruk’s salary). The appropriate distribution of the net loss would be?
A Faruk, (N450); Osawe, (N1 050)
B Faruk, (N3 150); Osawe, (N7350)
C Faruk, (2 250); Osawe, (N7 350)
D Faruk, (N450); Osawe, (N1 050)
Answer is D
