Anwar runs a sole trader business and earns annual profits of $24000. He chooses to take Dilip in as a partner. They agree that Anwar will be paid a salary, and that profits and losses will be split equally. The projected appropriation account for the partnership’s first year of trading is: profit for the year $50000 salary Anwar $10000 profit available for distribution $40000 By what amount will Anwar’s total income rise?
- A$1000
- B$6000
- C$16000
- D$26000