M, N and O are partners sharing profits in the ratio of 2: 2: 2. N dies on 30th Jun 2020 due to ill health. The company profits for the last 3 years was OMR 20,000, OMR 20,000 and OMR 20,000. Calculate the profit share of N? O a. None of the options are correct O b. OMR 3333.33 O c. OMR 20,000 d. OMR 10,000

M, N and O are partners sharing profits in the ratio of 2: 2: 2. N dies on 30th Jun 2020 due to ill health. The company profits for the last 3 years was OMR 20,000, OMR 20,000 and OMR 20,000. Calculate the profit share of N? O a. None of the options are correct O b. OMR 3333.33 O c. OMR 20,000 d. OMR 10,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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