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JAMB Accounts Principles of Accounts 2019 Paper
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© africaexams.com
Question : 16
Total: 71
The rate of interest on capital for Ade is
250
200
300
400
Validate
Solution:
Interest on drawings:
Ojo = 5% × 1000 = ₦50
Sam = 5% × 2000 = ₦100
Ade = 5% × 900 = ₦45
Interest on Capital:
Ojo = 5% × 5000 = ₦250
Sam = 5% × 4,000 = ₦200
Ade = 5% × 6000 = ₦300
© africaexams.com
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