\(\begin{array}{c|c} & Halima & Ibinabo \\ & N & N \\ \hline \text{Capital accounts 1st Jan, 1992} & 100,000 & 50,000 \\ \text{Current accounts 1st Jan, 1992} & 20,000 & 40,000 \\ \text{Drawing during the year} & 10,000 & 15,000 \\ \text{Annual salaries} & 14,000 & 12,000\end{array}\)

Interest on capital is 10%. The net profit for the year is N60,000. The balance on Halima's current account on 31st December, 1992 is

Similar Questions

Goods returned to branch by customers is recorded in the head office books be debiting? ...

Income and expenditure account is more informative than receipts and payments account because it dis...

What is the working capital? ...

The concept that has much influence over asset valuation and income determination is? ...

Entrance fees.........................N1200 Subscriptions(including N850 arrears).N4310 Donations ...

The current growth in the volume of trading and financial dealings in Nigeria is helped by? ...

Given: Stock of raw materials 1/40............N11,150 Purchases of raw materials.............N112,...

Which method of pricing can be used satisfactorily in either a rising or falling price situation? ...

Cost of raw materials available------ 32,000 Manufacturing wages -----10,000 Factory expenses...

"Transactions are governed by legal principles, but are nevertheless accounted for and presente...