FA – May 2013 – L1 – SA – Q35 – Partnership Accounts

This question asks for a partner’s share of the profit or loss on realisation.

Question

What is Hassan’s share of profit or loss on realisation?

Answer

N28,800

Explanation:
Hassan’s share of profit on realisation is calculated based on his profit-sharing ratio in the partnership. His share of the N72,000 realisation profit is N28,800.

Tags: Partnership, Profit Sharing, Realisation Profit
Level: Level 1

Topic: Partnership Accounts (Including Profit Sharing, Capital and Current Accounts)
Series: MAY 2013

Uploader: Theophilus

FA – May 2013 – L1 – SA – Q35 – Partnership Accounts

This question asks for a partner’s share of the profit or loss on realisation.

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FA – May 2013 – L1 – SA – Q35 – Partnership Accounts

This question asks for a partner’s share of the profit or loss on realisation.

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