Use the following information to answer the question
...Use the following information to answer the question
Use the following information to answer the question
\(\begin{array}{c|c} & Ade & Bola\\ & N & N \\ \hline \text{Capital Accounts} & 60,000 & 40,000\\ \text{Current Accounts} & 10,000 Cr & 6,000 Cr \\ \text{Drawings} & 8,000 & 2,000 \end{array}\)
Interest on drawings is 5%, interest on capital is 10%. Profit and losses are shared equally. Net profit for the year is N30,000. Ade's share of profit is
N19,750
N15,250
N15,000
N10,250
Correct answer is D
No explanation has been provided for this answer.
Goodwill can be valued in partnership when? ...
\(\begin{array}{c|c} & Halima & Ibinabo \\ & N & N \\ \hline \text{Capital accounts ...
Use the following information to answer the given question \(\begin{array}{c|c} & DR & CR...
Ledger account is mainly classified into? ...
The power to appoint the Auditor General of the Federation is vested in the ...
One of the objectives of accounting is that it can be used for ...
Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hli...