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Friday, 03 April 2026
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Use the following information to answer he given question \(\begin{array}{c|c} J. ...

Use the following information to answer he given question
\(\begin{array}{c|c} & J. Chike & B. Balla \\ & N & N \\ \hline \text{Current Accounts balance(1/4/98)} & 4,000 & 6,000 \\ \text{Current Accounts balance (1/4/99)} & 7,000 & \text{?} \\ Drawings & 1,500 & 1,500 \\ \text{Share of net profit} & \text{?} & 2,500 \end{array}\)
What is chike's share of profit from the partnership for the year ended 31/3/99 ?
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  • A N8,500
  • B N7,000
  • C N5,500
  • D N4,500
Correct Answer: Option D
Explanation:

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