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How much should Kamal receive

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Question - Two years ago Adam, Rebecca and Kamal set up a partnership. Their agreement provides for income and capital profits to be shared in the same proportions as their capital contributions which were: Adam - P10,000, Rebecca - P10,000 and Kamal - P20,000. The business has just ceased to trade, having a total realizable value of P24,000 after allowing for payment of all claims on the partnership including the partners' capital contribution. How much should Kamal receive?

a. 20,000

b. 12,000

c. 10,000

d. 6,000

Reference no: EM133123465

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