A member of a club paid N1,000 as is subscription for 1993 and N1,200 as subscription for 1992. If the financial year of the society ended on 31st December 1993, the N1,200 subscription will be treated in the balance sheet as

Which of the following is a strong feature of partnership?

Interest on a partner's drawings is debited to the

A partnership on admitting a new member, revalued the business' land and building from N30,000 to N70,00. The difference of N40,000 should be

Halidu and Hamed are business partners with N30,000 and N20,000 capital respectively. At the end of the financial year, a profit of N12,000, which included Halidu's salary of N3,000 was made.
Halidu's share of the profit is