(a) Dev Persaud Haniff Baksh and Vaughn Copeland graduated from Caribe Law School in the year 2009 and after ten years of legal practice as sole practitioners, they decided to form the law firm, Persaud, Baksh and Copeland. At the commencement of the partnership on January 1, 2021, Dev contributed cash of $1,000,000, Hanif introduced his Law library at a value of $300,000 as well as $300,000 in cash and Vaughn brought in two cars, together valued at $250,000 and $250,000 in cash The partners aged as follows 1. The partners would revive interest on their capital introduced at the rate of 10% per annum 2 Harf and Vaughn would each receive a salary of $240,000 for a year and Dee would not take a salary 3 The remainder of the profit would be shared in the ratio 332 D Hani and Vaughn respectively. The following trial balance was extracted from the records at December 31, 2121. after one year (12 month of legal practice by the law firm Persad, Baksh & Copeland Trial Balance at December 31, 2021 Cash Fixtures & Fittings Accounts Receivable Otee Supple Motor Vehicles Office Equipment Law Library Accounts Payable Unearned Fees Loan Dev, Capital January 1, 2121 Hanif Capital January 01, 2021 Vaughn Capital January 01, 2021 Dec, Drawings Debit $ Credit $ 1825,700 28,000 126400 45,600 250,000 $4,000 300,000 45,000 $2,000 50,000 1,000,000 500,000 500,000 8,300 Law Offer Mat Accounting and TechoingMay 2022 Hand Drawing 144,000 Vaughn, Drawings 120,000 Legal Fees earned 4x38000 Computer Service Expense 21,600 Salaries Expense 3.392,000 Utilities Expense 68,500 Insurance Expense 91,000 Office Expense 0,500 Rent Expense 360,000 Miscellaneous Expense 12,700 6,998,000 6,998,000