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 profit available for distribution?
N17,800
N14,000
N10,800
N7,000
N3,800
Correct answer is C
No explanation has been provided for this answer.
A service which a firm has enjoyed, but has not yet been paid for is ...
Purchases in accounting refers to goods bought for ...
A partners whose liability goes beyond his capital is known as ...
A person who has applied to purchase shares in a company is referred to as ...
Share premium can be used to? i. Write off discount on shares ii. Give loans to directors i...
The importance of bank statement is all except ...
The diagrammatic representation of the workings of the computer program is ...
Use the following to answer the given question DEBTORS CONTROL ACCOUNT: \(\begin{array}{c|c} &...
Expense paid during the conversion of a partnership to a company are? ...