(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 interest on Halima’s capital is
Interest on capital is 10%. The net profit for the year is N60,000. The interest on Halima’s capital is
-
A.
N10,000 -
B.
N6,000 -
C.
N4,0000 -
D.
N2,000 -
E.
N1,000