Stephens, Owen and Jones are partners. They share profits and losses in the ratios of 2/s, 2/s and '/s respectively.

For the year ended 31 December 20X6, their capital accounts remained fixed at the following amounts:

They have agreed to give each other 10 per cent interest per annum on their capital accounts.
In addition to the above, partnership salaries of £3,000 for Owen and £1,000 for Jones are to be charged.

The net profit of the partnership, before taking any of the above into account was £25,200.
You are required to draw up the appropriation account of the partnership for the year ended 31 December 20X6.

Transcribed Image Text:

Stephens Owen Jones 6,000 4,000 2,000