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
The balance on Johnson's current account is
N3,300 Cr
N2,200 Cr
N1,200 Cr
N800 Dr
N500 Dr
Correct answer is D
No explanation has been provided for this answer.
Use the following information to answer the given question \(\begin{array}{c|c} \text{Rent paid...
When is a petty cash account debited? ...
A part of public company's profit belonging to the shareholders is ...
When goods are sent to the branch at cost plus mark-up, it means that the branch should sell at ...
Given: Bank overdraft..............N2000 Cash........................N2000 Furniture................
When the letter "C" is written in front of an entry in the folio column of a cash book, it...