Use the following information to answer the que... - WAEC Accounting 2015 Question
Use the following information to answer the question below
\(\begin{array}{c|c}
& Ade(N) & Bola(N) \
\hline
Capital & 40,000 & 30,000 \
\hline
Drawings & 10,000 & 15,000
\end{array}\)
Interest on drawing is 5%; profit is shared equally.
Ade's share of profit is
\(\begin{array}{c|c}
& Ade(N) & Bola(N) \
\hline
Capital & 40,000 & 30,000 \
\hline
Drawings & 10,000 & 15,000
\end{array}\)
Interest on drawing is 5%; profit is shared equally.
Ade's share of profit is
A
N5,500
B
N4,250
C
N2,750
D
N1,250
correct option: c
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