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

Interest on capital is 10%. The net profit for the year is N60,000. The balance on Ibinabo's current account on 32st December, 1992 is

Similar Questions

\(\begin{array}{c|c} & N\\ \hline \text{Land and building} & 20,000\\ Stock & 5,000\\ \t...

A provision for bad debt account had N3,800 at the beginning of the year and N4,220 at the close of ...

In a three-column cash book, dishonored cheques will be shown on the ...

Asa Company bought a vehicle worth N20,000 and the vehicle is to be depreciated at 5%. Using the red...

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

Goods bought from Sanmah for Le1,600 was entered into Shamail's Account. This is an error o...

Given: (i) Order of performance  (ii) Order of liquidity  (iii)Vertical order  (i...

In a system of incomplete records, the opening capital is determined by preparing ...

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

Use the information to answer the given question. \(\begin{array}{c|c} & D\\ \text{Opening ...