Use the information below to answer this question. Ojo, Sam and Ade are in partnership...
FINANCIAL
JAMB 2019
Use the information below to answer this question.
Ojo, Sam and Ade are in partnership sharing profit in the ratio 4 : 3 : 1 respectively. Extract from their books for the year ended are
Interest on drawings and capital is allowed 5% respectively and profit for the year amounted to ₦4,950
Sam's share of profit is
- A. 7000
- B. 4921
- C. 3000
- D. 991.8
Correct Answer: D. 991.8
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