Use the information below to answer question Jide and Haruna contribute N12000 each as capital and share profit equally. Jide draws N1500 and Haruna N1700 half-yearly. The profit for the year is N10000. Jide receives a salary of N2000. The balances of current accounts of Jide and Haruna are respectively?

Use the information below to answer question

Jide and Haruna contribute N12000 each as capital and share profit equally. Jide draws N1500 and Haruna N1700 half-yearly. The profit for the year is N10000. Jide receives a salary of N2000.

The balances of current accounts of Jide and Haruna are respectively?

A N6000 and N5000
B N3000 and N3400
C N4000 and N4000
D N3000 and N600

jamb 2005 accounting

The correct answer is D. N3000 and N600

No explanation given

Previous question Next question