Use the following information to answer the given question.
John and Johnson are in partnership, sharing profit and losses in the ratio 3 : 2. Other information are as follows:

$\begin{array}{c|c} \text{Capital} & \text{ - John} & N20,000 \\ & \text{ - Johnson} & N10,000 \\ Drawings & \text{ - John} & 2,000 \\ & \text{ - Johnson} & 3,000 \\ \text{Interest on capital} & & \text{5%} \\ \text{Interest on drawings} & & \text{10%} \\ Profit & & N6,000\end{array}$
Interest on John's drawings is

Similar Questions

The sales ledger control account is also referred to as ...

The assumption that a business has perpetual existence is recognized by ...

  D Motor vehicle 500000 Stock 35000 ...

Use the following information to answer the given question: SALES LEDGER CONTROL ACCOUNT \(\be...

Use the following information to answer the given question Kudi Local Government Council incurred...

A trial balance is a proof of ...

OGOGO'S SALES LEDGER LEDGER CONTROL ACCOUNT \(\begin{array}{c|c} & D & & D \\ \...

At the end of a financial period, the trading profit and loss account of a sole trader shows a profi...

Kakaku limited with three departments has a total of N7,200,000 as net debtors for the year ended 31...

Which of the following is found on the credit side of a partnership's appropriation of profit ac...