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:

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

Similar Questions

Kola and Sunday are in partnership sharing profits and losses equally. If Kemi is admitted as a new ...

The error that affects the agreement of a trial balance totals is ...

In a sales ledger, contra entry is found on the? ...

Debenture is a ...

A document which acknowledges that a company owes a named person a stated sum of money with the prom...

Financial accounting information is for ...

Which of the following is not prepared by a partnership? ...

The document that is used to acknowledge the acceptance of the return of goods by the seller from th...

A three column cash book contains column for ...

Which of the following should be included in the adjusted cash book? ...