\(\begin{array}{c|c} & Baba & Tude\\ & N &...
Use the following information to answer the given question
\(\begin{array}{c|c} & Baba & Tude\\ & N & N \\ \hline \text{Capital Accounts 1 January, 2000} & 40,000 & 50,000\\ \text{Current Accounts 1 January, 2000} & 20,000Cr & 15,000Cr \\ \text{Drawings during the year} & 4,000 & 15,000\\ Salaries & 5,000 & 5,000\end{array}\) Interest on capital is 10%, the net profit for the year is N40,000.
The shares of profit of each partner is
N20,000
N10,500
N5,000
N4,000
Correct answer is B
No explanation has been provided for this answer.
The head office usually issues goods to branches at ...
Receipts and Payment Account (Extract) &nbs...
The concept which seeks to prevent profits from being overstated is ...
Prime cost is one of the following ...
Opening stock + Purchases + carriage inwards is equal to ...
Profit expressed as a proportion of cost price is known as ...
The Assets and liabilities of Udo Co.ltd. as at 31st December, 2000. Creditors N50,000 Debtors N...
The total of the sales journal is posted to the ...
Which of these is the subsidiary book for return inwards? ...