ACCOUNTING

JAMB 2005 - Question 43

Account 2005 JAMB Past Questions - Question 43: 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 The balances of current accounts of Jide and Haruna are respectively

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
The balances of current accounts of Jide and Haruna are respectively
A:
B:
C:
D:
Examkits App

Examkit's JAMB CBT App

Practice JAMB offline with our Online, PC and Mobile App

  • ✅ 25+ years of past questions (2000 to 2025)
  • ✅ Video solutions and explanation to questions
  • ✅ E-library
  • ✅ Study by topic
  • ✅ And more.

Correct Answer

D

Explanation