A-LevelAccountingPreparation of financial statements9706/12 · May/June 2025 · Q181 Mark
Valerie and Paul are in partnership, sharing profits and losses in the ratio of 5:3 respectively. The partnership profit for the year was $250000. The appropriation account of the partnership for the year included the following information. total interest on partners' drawings $12000 total interest on partners' capital contributions $18000 What was Paul's share of the residual profits?
A$82500
B$91500
C$93750
D$96 000
✓ Correct answer
B: $91500
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