Use the following information to answer the given question.
John and Johnson are in partnership, sharing profit and losses in the ratio 3 : 2. Other information are as follows:
\(\begin{array}{c|c} \text{Capital} & \text{ – John} & N20,000 \\ & \text{ – Johnson} & N10,000 \\ Drawings & \text{ – John} & 2,000 \\ & \text{ – Johnson} & 3,000 \\ \text{Interest on capital} & & \text{5%} \\ \text{Interest on drawings} & & \text{10%} \\ Profit & & N6,000\end{array}\)
The balance on John’s current account is
- N4,000 Dr
- N3,800 Cr
- N3,300Cr
- N2,000 Cr
-
N18,000 Cr
