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.
The accounting equation of a business shows the ...
When closing stock is undervalued, the cost of goods sold would be ...
July 1 - Started business with #10,500 July 31- Paid Agro machine x #6,000 owing them The double...
\(\begin{array}{c|c} & N \\ \hline \text{Opening stock of raw materials} & 8,000\\ \text{Pur...
The total of the sales journal is posted to the ...
Which of the following accounts are found in the nominal ledger? I. Advertising ll.Motor repairs ...