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Use the information to answer question below Capital balances ...

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?
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  • A N11,950
  • B N10,950
  • C N20
  • D N 0
  • E NO OPTION
Correct Answer: Option E
Explanation:
K capital contributed = 10000
10000 -Â 1,000 - 2000 - 100 - 10 = 6880
Â

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