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Anwar and Samir are in partnership sharing profits in a 3:2 ratio. Net profit for the year ended 31.12.2019 was OMR 12,000. Interest on capital
Anwar and Samir are in partnership sharing profits in a 3:2 ratio. Net profit for the year ended 31.12.2019 was OMR 12,000. Interest on capital was allocated as OMR 400 to Anwar and OMR 250 to Salim. Salim received a partnership salary of OMR 5,000. How much was Anwars share of profit?
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Managerial Accounting With Ready Notes
Authors: Ronald W. Hilton
1st Edition
0075619733, 978-0075619734
