Accounts - Principles of Accounts
WAEC 2021
Use the following information below to answer this question.
Attama and Wawa were in partnership sharing profits and losses in the ratio 4:3. Attama was entitled to a salary of D13,000 per annum. A net profit of D34,000 was made for the year.
The residual profit of the business for the year is
-
A.
D47,000
-
B.
D34,000
-
C.
D22,000
-
D.
D21,000
Correct Answer: Option A
Explanation
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