9706/12 Accounting Feb Mar 2023 Online Test | Cambridge AS and A Level MCQ
X, Y and Z are in partnership, sharing profits and losses in the ratio 2 :2 :1.
X is allowed an annual salary of $10000.
Y 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 Z’s total share of profit for the year?