Accounting 9706 · AS & A Level · The accounting system

The accounting system — practice question

The details below are given for a partnership. Profit for the year before interest $15\,000$ Interest on partner’s loan to the firm $1\,000$ Interest on capital $2\,000$ Drawings $10\,000$ Which profit figure should be distributed among the partners?

  • A$3000
  • B$13\,000
  • C$14\,000
  • D$15\,000

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