Post Utme Rhema University 2024 Accounting Question 1
Practice objective / multiple choice question 1 from the 2024 Post Utme Rhema University Accounting examination.
A company's trading account for the year ended 31st December 2023 showed a profit of ₦1,500,000. The balance on the capital account of the partners was ₦2,500,000. The balance on the drawings account was ₦300,000. The balance on the profit-sharing account was ₦1,200,000. The partners' capital was divided in the ratio 3:2:1. What was the amount of profit to be divided among the partners?
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About This Question
This is Post Utme Rhema University 2024 Accounting Question 1. It is one of the objective questions from the 2024 Post Utme Rhema University Accounting examination.
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