Accounting 0452 · IGCSE · Partnerships

Partnerships — practice question

Ann and Ben are partners and divide profits and losses equally. They were given the following figures for the year ending 30 April 2021: profit for the year $20\,000$ interest on capital: Ann $5\,000$, Ben $4\,000$ drawings: Ann $8\,000$, Ben $7\,000$ What amount of residual profit was Ben entitled to?

  • A$5\,500
  • B$10\,000
  • C$13\,000
  • D$14\,500

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