The following information was obtained from the records of Alben Traders, a partnership business with Albert and Bennie as partners, after the net profit of R546 000 was appropriated between the partners: Partners' salaries R480 000; Interest on drawings R6 000; Total share of the remaining loss R48 000. Which of the following reflects the value of the interest on capital? O A. R108 000 OB. R24 000 O C. R120 000 O D. R972 000

The following information was obtained from the records of Alben Traders, a partnership business with Albert and Bennie as partners, after the net profit of R546 000 was appropriated between the partners: Partners' salaries R480 000; Interest on drawings R6 000; Total share of the remaining loss R48 000. Which of the following reflects the value of the interest on capital? O A. R108 000 OB. R24 000 O C. R120 000 O D. R972 000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The following information was obtained from the
records of Alben Traders, a partnership business with
Albert and Bennie as partners, after the net profit of
/R546 000 was appropriated between the partners:
Partners' salaries R480 000; Interest on drawings R6
000; Total share of the remaining loss R48 000. Which
of the following reflects the value of the interest on
capital?
O A. R108 000
OB. R24 000
O C. R120 000
O D. R972 000

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