\(\begin{array}{c|c} Capital & Le \\ \hline Aye & 20,000\\ Bee & 30,000\\ Drawings & \\ Aye & 8,000 \\ Bee & 2,000 \\ \text{Profit for the year} & 2,000\\ \text{Interest on capital-6%} & \\ \text{Interest on drawings - 10%} & \end{array}\)

Profit sharing is in the ratio of capital. The divisible profit is

Similar Questions

Which of the following are advantages of departmental accounts? ...

The balance on the sales ledger control Account at the end if the accounting year represents total ...

Impersonal account is subdivided into ...

Use the following information to answer the given question \(\begin{array}{c|c} & ₦\\ \hl...

A trader paid insurance premium of N45,000 for 15 months ended 31st March, 2000. He prepares account...

The mark-up on a product is 2/3. The margin is ...

Which of the these entries is wrong PURCHASES ACCOUNT \(\begin{array}{c|c} & N & &...

Trading Account (Extract) .................N.............................N...... Opening stock.....

Use the following to answer the given question \(\begin{array}{c|c} & N \\ \hline sales &am...

If a trail balance is in agreement, one of the statement is untrue ...