Nicholson and Marriott are in partnership, sharing profits and losses equally. On 31 March 19-9 the following balances were extracted from their books:

Capital accounts:
Nicholson 24,000 Marriot 36,000 Current accounts (1 April 19-8):
Nicholson 2,000 Marriott 4,000 Drawings:
Nicholson 4,000 Marriott 3,000 General expenses 2,000 Wages 15,000 Rent, rates and insurance 9,000 Purchases and sales 65,000 120,000 Cash and bank 2,000 LO.1