Accounting 0452 · IGCSE · Partnerships

Partnerships — practice question

John and Mark operate a partnership. Profits and losses are divided in the ratio $3:2$. John receives an annual salary of $12000$. The profit for the year ended 31 August 2023 amounted to $52000$. How much would 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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