ACCOUNTING

JAMB 2005 - Question 42

Account 2005 JAMB Past Questions - Question 42: Jide and Haruna contribute N12 000 each as capital and share profit equally. Jide draws N 1 500 and Haruna N 1 700 half-yearly. The profit for the year is N10 000. Jide receives a salary of N 2 000 Calculate the profit available for appreciation

Choose the most appropriate option for the gap .
Jide and Haruna contribute N12 000 each as capital and share profit equally. Jide draws N 1 500 and Haruna N 1 700 half-yearly. The profit for the year is N10 000. Jide receives a salary of N 2 000
Calculate the profit available for appreciation
A:
B:
C:
D:
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Correct Answer

C

Explanation