Accounting 0452 · IGCSE · Partnerships

Partnerships — practice question

Ann and Bob operate as partners and divide profits in the ratio $3:2$ respectively. Ann is paid a salary of $20\,000 per annum. There is no interest on capital or interest on drawings. The profit for the year totals $75\,000$. Ann’s share of the residual profit was $24\,000. What salary was Bob entitled to?

  • A$13\,333
  • B$15\,000
  • C$16\,000
  • D$31\,000

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