Question on: WAEC Accounting - 1995
\(\begin{array}{c|c} & Halima & Ibinabo \ & N & N \ \hline \text{Capital accounts 1st Jan, 1992} & 100,000 & 50,000 \ \text{Current accounts 1st Jan, 1992} & 20,000 & 40,000 \ \text{Drawing during the year} & 10,000 & 15,000 \ \text{Annual salaries} & 14,000 & 12,000\end{array}\)
Interest on capital is 10%. The net profit for the year is N60,000. The interest on Halima's capital is
Interest on capital is 10%. The net profit for the year is N60,000. The interest on Halima's capital is
A
N10,000
B
N6,000
C
N4,0000
D
N2,000
Ask EduPadi AI for a detailed answer
Correct Option: A
Add your answer
Please share this, thanks!
No responses