Question on: JAMB Accounting - 1997
Adamu, Babaji and Chukwu are in partnership and they share profit and losses on ratio 3:2:1. Their respective capitals are N20 000, N15 000 and N5 000 on which on which they are entitle to interest at 5% per annum. The profit for the year before charging interest on capital amounted to N5 500.
Calculate the profit for Adamu?
A
N583
B
N1 000
C
N1 167
D
N1 750
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Correct Option: B
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