Use the following information to answer the question
Use the following information to answer the question
(begin{array}{c|c} & Ade & Bola\ & N & N \ hline text{Capital Accounts} & 60,000 & 40,000\ text{Current Accounts} & 10,000 Cr & 6,000 Cr \ text{Drawings} & 8,000 & 2,000 end{array})
Interest on drawings is 5%, interest on capital is 10%. Profit and losses are shared equally. Net profit for the year is N30,000. Ade’s share of profit is
Use the following information to answer the question
(begin{array}{c|c} & Ade & Bola\ & N & N \ hline text{Capital Accounts} & 60,000 & 40,000\ text{Current Accounts} & 10,000 Cr & 6,000 Cr \ text{Drawings} & 8,000 & 2,000 end{array})
Interest on drawings is 5%, interest on capital is 10%. Profit and losses are shared equally. Net profit for the year is N30,000. Ade’s share of profit is
-
A.
N19,750 -
B.
N15,250 -
C.
N15,000 -
D.
N10,250