O Level Accounting (7707)•7707/12/M/J/21

Explanation
Missing profit amount prevents calculation
Steps:
- Identify total profit for the year, but no amount is provided after "profit for the year $".
- Calculate interest on capital: Ann 5,000 = $10,000 total appropriation.
- Subtract total interest from profit to get residual profit.
- Divide residual profit equally (50/50) for Ben's share. Not enough information to compute numerical value.
Why the correct option is correct:
- N/A; insufficient data.
Why the others are wrong:
- A, B, C, D: All assume an unstated profit figure, leading to arbitrary results.
Final answer: Not enough information.
Topic: Partnerships
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