JAMB Principles of Accounts 2002 Question 47

Use the information below to answer questions 47 and 48.
The partnership agreement between Abba, Baba and Kaka contains the following provisions:
(i) 5% interest to be paid on capital and no interest to be charged on drawings
(ii) Profits and losses to be shared in the ratio 3:2:1 respectively
(iii) Net profit as at 31/12/95 ₦2,250.
(₦: Abba; Baba; Kaka)
Capital 5000; 4000; 3000
Current account 250; 100; 175
Salary 300; 300; —
Drawings 600; 500; 250
Abba's capital balance at the end of the year will be

1. A.₦5475
2. B.₦5725
3. C.₦4400
4. D.₦5000.