Accounts (Principles of Accounts)Partnership accountsWAEC
A and B share profits 2 : 1 after interest on capital of ₦20,000 to A and ₦10,000 to B. Net profit is ₦180,000. Find A's total share.
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Answer: B. ₦120,000
Residual profit = 180,000 − 30,000 = 150,000; A gets 2/3 = 100,000 plus 20,000 interest = ₦120,000.
An AdmitMe practice question, written for the WAEC syllabus. Not an official past question.