Accounting 9706 · AS & A Level · The accounting system

The accounting system — practice question

X, Y and Z are partners, and they divide profits and losses in the ratio $2:2:1$. X receives an annual salary of $10\,000$. Y has lent money to the partnership, and the partnership pays interest of $5000$ each year on this loan. The profit for the year before appropriation amounted to $150\,000$. What amount of profit did Z receive in total for the year?

  • A$27\,000$
  • B$28\,000$
  • C$29\,000$
  • D$30\,000$

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