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

Profit sharing is in the ratio of capital. Bee's share of profit is

Similar Questions

The business entity concept ...

If goods are invoiced to the branch at cost and the invoice par value is N 2 000 with 5%discount rat...

Purchases ledger opening balances N4,000 Sales ledger opening balances N6,000 Credit purchases durin...

Given:  I. Cash refunds  II. Debit note issued  III. Dishonored cheque  IV...

A financial plan of action expressed in monetary terms is known as ...

Use the following information to answer the question Use the following information to answer th...

Sulah took two textile materials worth N500 from his business for his children's use. This would...

Which of the following concepts is exposed to hold when a proprietor makes a drawing of goods or cas...

A book that contains the account for the financial transactions of an organizations is the  ...

In preparing accounting records, the owner of a business and the business are treated as ...