Accounts > 2010 > 34
WASSCE
Use the following information to answer this question.
Aba and Baba are partners who agree to share profits and losses in the ratio 4:3 respectively. Extracts from their books for the year ended 31/12/08 are:
| ABA | BABA | TOTAL | |
| e | e | e | |
| Capital | 20 000 | 15 000 | 35 000 |
| Drawings | 2 520 | - | 2 520 |
| Interest on drawings | 504 | - | 504 |
| Interest on capital | 2 000 | 1 500 | 3 500 |
| Net profit 31/12/08 | - | - | 34 636 |
Baba's share of profit is
A.
e 16,128
B.
e 14,844
C.
e 13,764
D.
e 13,560
Answer: D
To see detailed solution to this question and thousands of other questions offline, download TestDriller SSCE. Practice rigorously for WASSCE, enjoy educational games, get chief examiners' reports, summary of WAEC literature books, compete with your peers, win prizes and more.
09037778195