The rate of interest on capital for Ade is - JAMB Accounting 2019 Question
The rate of interest on capital for Ade is
A
250
B
200
C
300
D
400
correct option: c
Interest on drawings:
Ojo = 5% × 1000 = ₦50
Sam = 5% × 2000 = ₦100
Ade = 5% × 900 = ₦45
Interest on Capital:
Ojo = 5% × 5000 = ₦250
Sam = 5% × 4,000 = ₦200
Ade = 5% × 6000 = ₦300
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