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Use the following information to answer the question below Ata. Bubu and Chikum were in ...

Use the following information to answer the question below
Ata. Bubu and Chikum were in partnership sharing profits and losses in proportion to their capital contributions:
Capital Drawings
Ata 40,000 8,000
Bubu 30,000 5000
Chikum 20,000 -
Net profit for the year was 40,500 and the interest on capital was 5% per annum

Bubu's share of profit is
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A N16,000
  • B N12,000
  • C N8,000
  • D N4,000
Correct Answer: Option B
Explanation:

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