$\begin{array}{c|c} & Halima & Ibinabo \\ & N & N \\ \hline \text{Capital accounts 1st Jan, 1992} & 100,000 & 50,000 \\ \text{Current accounts 1st Jan, 1992} & 20,000 & 40,000 \\ \text{Drawing during the year} & 10,000 & 15,000 \\ \text{Annual salaries} & 14,000 & 12,000\end{array}$

Interest on capital is 10%. The net profit for the year is N60,000. The interest on Halima's capital is

Similar Questions

Which of the government serves as an input, storage and output device of a computer? ...

Yinka bought goods worth N800.00 and sold at a margin of 20% on selling price. How much did she sell...

Agreement between partners is contained in the partnership ...

Depreciation on a particular piece of machinery was N2,700 during the fifth year of its service life...

Which of the following items will not be entered in the adjusted cash book?  ...

The major objective of departmental accounts is to ascertain the? ...

The medium that enables the ATM to read the account details and process transaction directly with th...

Subscriptions in arrears is treated in the balance sheet of a club as ...

The fixed amount of money set aside for pretty expenses is called ...

The accounting principle that states that insignificant expenditures are not to be taken into accoun...