Use the following information to answer the question
Use the following information to answer the question
AdeBolaNNCapital Accounts60,00040,000Current Accounts10,000Cr6,000CrDrawings8,0002,000
Interest on drawings is 5%, interest on capital is 10%. Profit and losses are shared equally. Net profit for the year is N30,000. Bola's current account balance is
N18,150 Cr
N16,150 Cr
N10,150 Cr
N6,150 Cr
Correct answer is D
No explanation has been provided for this answer.
In bank reconciliation process, discrepancies cause by timing arises as a result of? ...
\(\begin{array}{c|c} & N\\ \hline \text{Motor Van} & 120,000\\ \text{Buildings} & 300,00...
When a bill is negotiated to a bank, it is said to be? ...
The mark-up on a product is 2/3. The margin is ...
Which of the following is a credit item in an income and expenditure account? ...
OGOGO'S SALES LEDGER LEDGER CONTROL ACCOUNT \(\begin{array}{c|c} & D & & D \\ \...
The principal of double entry book-keeping is that ...
Use the following to answer the given question BALANCE SHEET: \(\begin{array}{c|c} & N &am...