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Abid and Onik were in partnership sharing profit in the ratio 3 : 2. Their respective ...

Abid and Onik were in partnership sharing profit in the ratio 3 : 2. Their respective capitals were N4,000 and N2,000 and their drawings N1,800 and N1,200. Profit during the year was N5,400; before 5% interest on capital. No interest was chargeable on drawings. What was the balance carried down on Abid's current account?
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  • A N940
  • B N1,460
  • C N2,040
  • D N3,060
  • E N3,600
Correct Answer: Option A
Explanation:

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