Gray, Wilkes and Booth are partners. They share profits and losses in the ratios of 3 /8, 3 /8 and 1 /4 respectively. For the year ending 31 December 2012 their capital accounts remained fixed at the following amounts:

They have agreed to give each other 5 per cent interest per annum on their capital accounts. In addition to the above, partnership salaries of £32,000 for Wilkes and £14,000 for Booth are to be charged. The net profit of the partnership before taking any of the above into account was £84,800. 

Required: 

Draw up the appropriation account of the partnership for the year ending 31 December 2012.

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Gray Wilkes Booth 50,000 40,000 30,000