Question
1Basil and Ben are in partnership sharing profits and losses in the ratio 3 : 2. Basil receives an annual salary of $12 000. The
1Basil and Ben are in partnership sharing profits and losses in the ratio 3 : 2. Basil receives an annual salary of $12 000. The firm's net profit for the year was $52 000. How much would be credited to the current account of each partner after all appropriations?
Basil current accountBen current account
$$
A . 26 000 26 000
B.31 200 20 800
C.36 000 16 000
D. 24 000 16 000
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Principles of Financial Accounting chapters 1-17
Authors: John Wild, Ken Shaw, Barbara Chiappetta
23rd edition
1259687740, 1259687747, 978-1259687747
