Question 17

\(\begin{array}{c|c} & & ₦ \\ \hline \text{capital accounts:} & Ojo & 40,000 \\ & Aina & 20,000 \\ \text{Drawings:} & Ojo & 10,000 \\ & Aina & 6,000 \\ \text{Interest on capital} & -5\text{%} & \\ \text{interest on drawings} & -10\text{%} & \\ \text{Net profit for the year} & N30,00 & \\ \text{Net profit for the year - Ojo} - \frac{2}{3} & & Aina - \frac{1}{3} \end{array}\)
Ojo's share of profit for the year is

  • A.₦21,067
  • B.₦20,9333
  • C.₦20,000
  • D.₦19,067
Objective

Question details

Exam body
WAEC
Subject
Accounts - principles of accounts
Year
2003
Question no.
#17
Type
Objective

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