Interest on the drawings of partners is treated in the?

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Use the information below to answer question .

Prime cost………………N12 100
lighting………………..N10 000
Heating…………………N15 000
Factory overhead…………?

The production department share of factory overhead is 1/4 and 1/2 of lighting and heating respectively.

A. profit and loss appropriation account
B. goodwill account
C. profit and loss account
D. trading account

Correct Answer:

Option A – profit and loss appropriation account

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