begin array c c amp Halima amp Ibinabo amp N am... - WAEC Accounting 1995 Question
\(\begin{array}{c|c} & Halima & Ibinabo \ & N & N \ \hline \text{Capital accounts 1st Jan, 1992} & 100,000 & 50,000 \ \text{Current accounts 1st Jan, 1992} & 20,000 & 40,000 \ \text{Drawing during the year} & 10,000 & 15,000 \ \text{Annual salaries} & 14,000 & 12,000\end{array}\)
Interest on capital is 10%. The net profit for the year is N60,000. The balance on Ibinabo's current account on 32st December, 1992 is
Interest on capital is 10%. The net profit for the year is N60,000. The balance on Ibinabo's current account on 32st December, 1992 is
A
N66,500
B
N53,500
C
N51,500
D
N43,500
correct option: c
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