Accounting 0452 · IGCSE · Partnerships

Partnerships — practice question

X and Y are partners, with capital contributions of $50000 and $30000 respectively. Under the partnership agreement, profits are shared in line with the capital invested, and each partner receives 10% interest on capital. The profit for the year amounted to $37000. What total amount was credited to Y’s current account at the end of the year?

  • A$10875
  • B$13875
  • C$18125
  • D$23125

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