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