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Use the following information to answer the question below Ajem and Ogah were in ...

Use the following information to answer the question below
Ajem and Ogah were in partnership sharing profits and losses in the ratio 2:3. Interest on capital and drawings were 5% and 3% respectively. The following details relate to the partnership for the year 2017.
Ogah Ajem
Capital Account 60,000 65,000
Current Account 40,000 50,000
Drawings 20,000 30,000
Salary 10,000 -
Netprofit was 100,000

Ajem's current account balance was
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A 65,000
  • B 60,000
  • C 42,000
  • D 40,000
Correct Answer: Option D
Explanation:

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