Use the following information to answer the que... - WAEC Accounting 2005 Question
Use the following information to answer the question
Use the following information to answer the question
\(\begin{array}{c|c} & Ade & Bola\ & N & N \ \hline \text{Capital Accounts} & 60,000 & 40,000\ \text{Current Accounts} & 10,000 Cr & 6,000 Cr \ \text{Drawings} & 8,000 & 2,000 \end{array}\)
Interest on drawings is 5%, interest on capital is 10%. Profit and losses are shared equally. Net profit for the year is N30,000. Ade's share of profit is
Use the following information to answer the question
\(\begin{array}{c|c} & Ade & Bola\ & N & N \ \hline \text{Capital Accounts} & 60,000 & 40,000\ \text{Current Accounts} & 10,000 Cr & 6,000 Cr \ \text{Drawings} & 8,000 & 2,000 \end{array}\)
Interest on drawings is 5%, interest on capital is 10%. Profit and losses are shared equally. Net profit for the year is N30,000. Ade's share of profit is
A
N19,750
B
N15,250
C
N15,000
D
N10,250
correct option: d
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