Accounting 9706 · AS & A Level · The accounting system

The accounting system — practice question

J, H and P are partners in a partnership. The profit for the year came to $80000$. J is due a partnership salary of $5000$. Profits are divided in the ratio $2:2:1$, although P is guaranteed minimum earnings of $20000$. What total profit share was received by J?

  • A$27500
  • B$32000
  • C$32500
  • D$35000

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI