Home » Past Questions » Accounts » Use the following information to answer the question given.\(\begin{array}{c|c} \text{Capital} & \text{Le} \\ \hline \text{Aye} & 20,000 \\ \text{Bee} & 30,000\\ \text{Drawings} & \\ \text{Aye} & 8,000 \\ \text{Bee} & 2,000 \\ \text{Profit for the year} & 2,000\\ \text{Interest on capital - 6%} & \\ \text{Interest on drawings - 10%} & \end{array}\).Profit sharing is in the ratio of capital. Aye's share of profit is...

Use the following information to answer the question given.\(\begin{array}{c|c} \text{Capital} & \text{Le} \\ \hline \text{Aye} & 20,000 \\ \text{Bee} & 30,000\\ \text{Drawings} & \\ \text{Aye} & 8,000 \\ \text{Bee} & 2,000 \\ \text{Profit for the year} & 2,000\\ \text{Interest on capital - 6%} & \\ \text{Interest on drawings - 10%} & \end{array}\).Profit sharing is in the ratio of capital. Aye's share of profit is...


Question

Use the following information to answer the question given.

\(\begin{array}{c|c} \text{Capital} & \text{Le} \\ \hline \text{Aye} & 20,000 \\ \text{Bee} & 30,000\\ \text{Drawings} & \\ \text{Aye} & 8,000 \\ \text{Bee} & 2,000 \\ \text{Profit for the year} & 2,000\\ \text{Interest on capital - 6%} & \\ \text{Interest on drawings - 10%} & \end{array}\).

Profit sharing is in the ratio of capital. Aye's share of profit is

Options

A) Le 6,000

B) Le 4,800

C) Le 4000

D) Le 3,200

The correct answer is D.


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