Use the following information to answer the given questio...
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:
Capital - JohnN20,000 - JohnsonN10,000Drawings - John2,000 - Johnson3,000Interest on capital5%Interest on drawings10%ProfitN6,000
What is Johnson's share of the profit?
N6,000
N3,600
N3,000
N2,400
N2,000
Correct answer is E
No explanation has been provided for this answer.
Which of the following is not shown in the trial balance? ...
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ &...
\(\begin{array}{c|c} & N \\ \hline \text{Sales} & 14,600 \\ \text{Purchases} & 5,500 \\ ...
Bola a grocer, keep petty cash on imprest system, the float being GH⊄ 8,000. These transactions...
One of the components of factory overhead is............ ...
The double entry for increasing provision for bad debt is debit ...
The total of the sales journal is posted to the ...
Which of the following is used to record the purchase of fixed asset on credit? ...