Ata. Bubu and Chikum were in partnership sharing profits ...
Ata. Bubu and Chikum were in partnership sharing profits and losses in proportion to their capital contributions:
Capital Drawings
Ata 40,000 8,000
Bubu 30,000 5000
Chikum 20,000 -
Net profit for the year was 40,500 and the interest on capital was 5% per annum.
The balance in Chikum's Current Account is
N14,000
N9,000
N8,000
N4,000
Correct answer is B
No explanation has been provided for this answer.
\(\begin{array}{c|c} & D \\ \hline \text{Cash in hand}& 1,440\\ \text{Cash at bank} & 24...
Subscription in advance is treated in the balance sheet under ...
Given: Opening capital - #50,000 Closing capital - #64,000 Drawings - #16,000 Determine the ne...
Use the following information to answer the given question. \(\begin{array}{c|c} \text{Net prof...
Given: Returns inwards............N1500 cash.......................N1550 Discount...................
A person who has applied to purchase shares in a company is referred to as ...
Which of the following is the effect of an increase in the provision for discount allowed? ...
A sales for N2,570 was recorded in the sales day book as N2750. The error committed was ...