Kola and Sunday are in partnership sharing profits and losses equally. If Kemi is admitted...
FINANCIAL
JAMB 2020
Kola and Sunday are in partnership sharing profits and losses equally. If Kemi is admitted as a new partner to take 1/5 as her share, what is the new profit or loss sharing ratio?
- A. Kola 1/3, Sunday 1/3 and Kemi 1/3
- B. Kola 1/5, Sunday 1/5 and Kemi 3/5
- C. Kola 2/5, Sunday 1/5 and Kemi 2/5
- D. Kola 2/5, Sunday 2/5 and Kemi 1/5
Correct Answer: D. Kola 2/5, Sunday 2/5 and Kemi 1/5
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