GCEFinancial AccountingPartnership Accounts2020

Ade and Bola are partners sharing profits and losses in the ratio 3:2. The partnership made a net profit of ₦150,000. How much profit is credited to Ade's current account?

A₦60,000
B₦75,000
C₦90,000CORRECT
D₦100,000
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Why the answer is C, and why the others tempt you.
The total ratio is 3 + 2 = 5. Ade's share is 3/5 × ₦150,000 = ₦90,000. Bola's share would be 2/5 × ₦150,000 = ₦60,000. The profit shares are credited to the partners' current accounts in the absence of a contrary instruction.
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