N
Net profit -------------------------17,460
Capital account: Taiwo--------50,000
                           Obi----------40,000
Drawings Account: Taiwo----12,000
                              Obi-------10,000
Salary - Obi---------------------1,500
Interest on capital--------------5%
Interest on drawings----------4%
Profit sharing ratio is 3:2 for Taiwo and Obi respectively

Taiwo's share of profit is...........

Similar Questions

Alaka who owed Saka #15,000, settled his debt after deducting cash discount of 10percent. To record ...

Other operating expenses for the period is ...

Share of ₦3 nominal value were issued at a price ₦4. The difference of ₦1 is a ...

Use the following information to answer the given question. John and Johnson are in partnership, sh...

A business which converts raw materials to finished goods prepares ...

Date.............Details........................ Feb........1 Purchased 400 units at N1.00 each ,,...

Jide and Haruna contribute N12000 each as capital and share profit equally. Jide draws N1500 and Har...

Trading Account of Umeh Enterprises for the year ended 31st December 2019   ...

Derive the total sales figure from the following information extracted from a firm's cash book a...

In a control account, discount received is found on the ...