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 & & N6,000end{array})
Interest on Johnson’s drawing is?
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 & & N6,000end{array})
Interest on Johnson’s drawing is?
-
A.
N500 -
B.
N300 -
C.
N200 -
D.
N150 -
E.
N100