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WAEC Accounting 2020 Paper

Question : 14

Total: 40

Solution:

Concept:

Partners share profits and losses in the same ratio as their capital contributions.

Explanation:

From the given information, the capital ratio for Ata, Bubu and Chikum is

4:3:2

The total number of parts is

4 + 3 + 2 = 9

Bubu's share of profit is

\frac{3}{9}

of the total profit.

The total profit is

\mathrm{N}36{,}000

So Bubu's share

= \frac{3}{9} \times \mathrm{N}36{,}000 = \mathrm{N}12{,}000

Answer:

B. N12,000

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