Use the information to answer question below
Capital balances b/d:…..P………….N20,000
……………………..K………….N10,000
Drawings:……………..P………….N2, 000
……………………..K………….N1, 000
Share of profits:………K………….N4, 000
……………………..K………….N2, 000
Salary………………..P………….N1, 000
Interest on drawings:…..K………….N100
……………………..K………….N20
If the capital of the partnership is unfixed, what is K’s current accounts?
- N11,950
- N10,950
- N20
- N 0
-
NO OPTION
The correct answer is: E
Explanation
K capital contributed = 10000
10000 - 1,000 - 2000 - 100 - 10 = 6880