The partners capital are: Modibbo #60,000 and Jakata #90,000. The partners share profit and losses
FINANCIAL
JAMB 2012
The partners capital are: Modibbo #60,000 and Jakata #90,000. The partners share profit and losses in the ratio of their capital contributions. The net profit for the year is #12,000. What is Jakata's sharing profit?
- A. 3:5
- B. 1:2
- C. 2:5
- D. 1:5
Correct Answer: D. 1:5
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