=+The new partner (Clarke) is to receive an annual salary of €5,000 — interest on capital and salaries in respect of the other partners is to remain unchanged.

The following is the draft trial balance of the partnership as at 31 December 2001:

Sales Opening inventory Purchases Motor expenses Salaries Telephone Heat & light General expenses Property — cost Property — additions Property - accumulated depreciation Equipment — cost Equipment — accumulated depreciation Motor cars — cost Motor cars — accumulated depreciation Trade receivables

€

60,000 125,000 15,000 30,000 6,000 5,000 1,000 50,000 20,000 75,000 100,000 15,000

€

275,000 6,000 36,600 56,250