Use the following information to answer the question below
Ata. Bubu and Chikum were in partnership sharing profits and losses in proportion to their capital contributions:
Capital Drawings
Ata 40,000 8,000
Bubu 30,000 5000
Chikum 20,000 -
Net profit for the year was 40,500 and the interest on capital was 5% per annum
Bubu's share of profit is
a
N16,000
b
N12,000
c
N8,000
d
N4,000
Explanation
Correct Option
bNo explanation available
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