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Alpha and Omega, partners, have been in the business of accounting services. For the accounting period ended July 31, 2022, the following information was
Alpha and Omega, partners, have been in the business of accounting services. For the accounting period ended July 31, 2022, the following information was provided: Alpha's capital $500,000 Omega's capital $400,000 Alpha's interest on capital $50,000 Omega's interest on capital $40,000 Alpha's interest on drawings $20,000 Omega's interest on drawings $25,000 Net profit for the period ended July 31, 2022 - $162,000. No salary was paid to either partner. Profit or loss sharing ratio is based on partners' capital contributions. Calculate the profit apportioned to Omega. a. $92,000 O b. $65,000 20 c. $52,000 Od. $115,000
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