Use the following information to answer the given questio...
Use the following information to answer the given question
\(\begin{array}{c|c} & Ade & Okon \\ & N & N \\ \hline \text{Fixed Capital} & 15,000 & 25,000 \\ \text{Salary per annum} & 6,000 & 8,000 \\ \text{Interest on capital per annum} & \text{8%} & \text{8%} \\ \text{Profit or loss sharing ratio} & \text{40%} & \text{60%}\end{array}\)
The net profit for the year ended 31st December 1990 is N28,000 while drawing are N3,000 and N4,000 for Ade and Okon respectively. What is the interest on capital?
N6,400
N4,000
N3,200
N2,000
N1,2000
Correct answer is C
No explanation has been provided for this answer.
The income and expenditure account of a club is the same as ...
A quality of accounting information is that it should be ...
Which of the following statements is no correct? ...
Given: Opening cash balance N20,000 Sales of match tickets N15,000 Clearing of pitch N1,200 Refr...
Use the following information to answer the given question \(\begin{array}{c|c} & Ade &...
Use the following information to answer the given question MANUFACTURING AND TRADING ACCOUNTS ...
Which of the following can be used on admission of a new partnership? ...
An increase in government expenditure within a year is taken care of by means of ...