Accounting 0452 · IGCSE · Partnerships

Partnerships — practice question

John and Mark operate as partners. Profits and losses are divided in the ratio $3:2$. John receives an annual salary of $12000. For the year ending 31 August 2023, the profit was $52000. What amount should be credited to the partners’ current accounts on 31 August 2023?

  • AJohn: $24000; Mark: $16000
  • BJohn: $26000; Mark: $26000
  • CJohn: $31200; Mark: $20800
  • DJohn: $36000; Mark: $16000

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