Use the information below to answer question Jide and Haruna contribute N12000 each as capital…

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Accounts - Principles of Accounts JAMB 2005

Use the information below to answer question

Jide and Haruna contribute N12000 each as capital and share profit equally. Jide draws N1500 and Haruna N1700 half-yearly. The profit for the year is N10000. Jide receives a salary of N2000.

Calculate the profit available for appreciation?

  • N12 000
  • N10 000
  • N8 000 checkmark
  • N7 000

The correct answer is: C

Explanation

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