WAEC - Accounts Principles Of Accounts (2019 - No. 27)

Use the following information to answer the question below

Ajem and Ogah were in partnership sharing profits and losses in the ratio 2:3. Interest on capital and drawings were 5% and 3% respectively. The following details relate to the partnership for the year 2017.
  Ogah Ajem
Capital Account 60,000  65,000
Current Account  40,000  50,000
Drawings  20,000 30,000
Salary 10,000  -
Netprofit was 100,000

Ajem's current account balance was

65,000
60,000
42,000
40,000

Comments (0)

Advertisement