- 1 Marks
Question
How much will be the balance on Emeka’s current account after adjusting for his share of profit, salary, and drawings?
A. N272,800
B. N302,400
C. N327,800
D. N352,800
E. N372,800
Answer
D. N352,800
Explanation:
Emeka’s current account balance is calculated after accounting for his salary, share of profit, interest on capital, and drawings.
- Tags: Current Account, Partner’s Drawings, Profit Sharing
- Level: Level 1
- Uploader: Theophilus