(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 & 12,000end{array})
Interest on capital is 10%. The net profit for the year is N60,000. The balance on Halima’s current account on 31st December, 1992 is
Interest on capital is 10%. The net profit for the year is N60,000. The balance on Halima’s current account on 31st December, 1992 is
-
A.
N66,500 -
B.
N53,300 -
C.
N51,500 -
D.
N43,500 -
E.
N33,500