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(20 marks) Current Accounts Balance at 28 February 2022 Net profit for the year Interest on capital Salaries Bonus Profit Share Drawings Balance at 28
(20 marks) Current Accounts Balance at 28 February 2022 Net profit for the year Interest on capital Salaries Bonus Profit Share Drawings Balance at 28 February 2023 REQUIRED Use the information provided below to prepare the Statement of Changes in Equity of Samson Traders for the year ended 28 February 2023 . INFORMATION The information given below was extracted from the accounting records of Samson Traders, a partnership business with Sammy and Sonny as partners. The fnancial yearends on the last day of February each year. The following must be considered: (a) The net profit according to the Profit and loss account amounted to R1 200000 on 28 Fobruary 2023. (b) The parthership agreement makes provision for the following: Interest on capidal must be provided at 15% per annum on the balances in the capital acoounts. The parthers are entited to the following monthy salaries: Sammy: R25 000 Sonmy R$000 Sanmy is entitled to a special bonus equal to 10% of his annual salary. Sanmy and Sonny share the remaining profits or losses in the ratio of their capital balanoes at the end of the year
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