A-LevelAccountingPreparation of financial statements9706/12 · May/June 2019 · Q121 Mark
D, E and F are in partnership, sharing profits in the ratio 2:2:1. D is allowed an annual salary of $10000. E has made a loan to the partnership on which the partnership pays interest of $5000 each year. Profit for the year before appropriation was $150000. What was F's total share of profit for the year?
A$27000
B$28000
C$29000
D$30000
✓ Correct answer
B: $28000
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