3/5 df 15% The following are balances of a partnerslay between Shoe and Lace as at 2021 December 31: Capital on 2021 January 01: Shoe Lace Current Accounts on 2021 January 01: Shoe Lace Drawings during the year were: Shoe Lace Land and building Equipment Cash at bank Bank loan Electricity Office salaries Advertising Bad debts Provision for bad debts Debtors Creditors Provision for depreciation: Equipment Stock on 2021 December 31 Gross profit for the year Additional information: 1. Provision for bad debts is to be increased by $50. ii. Amount for advertising included payment of $120 for 2022. iii. Electricity bill of $145 is due. iv. Equipment is to be depreciated at 20% per annum. v. Interest on capital is allowed at 20% per annum. vi. Interest on drawings is 5% per annum. DR CR S S 30 000 30 000 1 500 200 6.000 4 400 160 000 15 000 20 000 90 000 1.400 40 000 30.000 700 700 6.000 9.500 2000 30 000 150 000 vi. Profits and losses are to be shared between Shoe and Lace in the ratio 2:3. A. Prepare Profit and Loss and Appropriation Account for year ended 2021 December 311 (10 marks) B. Draw up Capital Accounts of the partnership. (2 marks) C. Draw up Current Accounts of the partnership. (8 marks)