Faruk and Osawe are in partnership sharing profits and losses in the ratio of 3:7. Faruk is to receive a salary of N9 000. In one accounting period, the business recorded a loss of N1 500 (before deduction of Faruk's salary). The appropriate distribution of the net loss would be?

Faruk and Osawe are in partnership sharing profits and losses in the ratio of 3:7. Faruk is to receive a salary of N9 000. In one accounting period, the business recorded a loss of N1 500 (before deduction of Faruk's salary). The appropriate distribution of the net loss would be?

A Faruk, (N450); Osawe, (N1 050)
B Faruk, (N3 150); Osawe, (N7350)
C Faruk, (2 250); Osawe, (N7 350)
D Faruk, (N450); Osawe, (N1 050)

jamb 1997 accounting

The correct answer is D. Faruk, (N450); Osawe, (N1 050)

No explanation given

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