WAEC Financial Accounting 2026 Question 31

Use the following information to answer questions 31 and 32.
Name — Capital Account — Drawings Account
Musa: ₦13,400 — ₦4,400
Cisse: ₦15,600 — ₦3,600
Interest: Capital 6%; Drawings 5%
Profit sharing ratio is 3:2 for Musa and Cisse respectively. Profit for the period is ₦36,500.
The residual profit to be shared according to the profit-sharing ratio is

1. A.₦36,900
2. B.₦36,500
3. C.₦35,160
4. D.₦34,360