Accounts - Principles of Accounts
WAEC 2015
Use the following information to answer the question below
\(\begin{array}{c|c}
& Ade(N) & Bola(N) \\
\hline
Capital & 40,000 & 30,000 \\
\hline
Drawings & 10,000 & 15,000
\end{array}\)
Interest on drawing is 5%; profit is shared equally.
Ade's share of profit is
-
A.
N5,500
-
B.
N4,250
-
C.
N2,750
-
D.
N1,250
Correct Answer: Option C
Explanation
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