JAMB - Accounts Principles Of Accounts (2015 - No. 7)

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

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