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any help with this would ge great Draw up a profit and loss appropriation account for the year ended 31 December 2021 and balance sheet
any help with this would ge great
- Draw up a profit and loss appropriation account for the year ended 31 December 2021 and balance sheet extracts at the date, from the following: 1. Net profit $30,350 2. Interest to be charged on capitals: Salmon, \$2,000; Duncan, \$1,500; Dayes, $900 3. Interest to be charged on drawings: Salmon, \$240; Duncan, \$180; Dayes, $130 4. Salaries to be credited: Duncan, $2,000; Dayes, $3,500 5. Profits to shared: Salmon, 50\%; Duncan, 30\%; Dayes 20% 6. Current accounts: Salmon, $1,860; Powell, \$946; Dayes 717 7. Capital accounts: Salmon, $40,000; Duncan, $30,000; Dayes $18,000 8. Drawings: Salmons, $9,200; Duncan, $7,100; \$Dayes, $6,900 Draw up a profit and loss appropriation account for the year ended 31 December 2021 and balance sheet extracts at the date, from the following:
- Net profit $30,350
- Interest to be charged on capitals: Salmon, $2,000; Duncan, $1,500; Dayes, $900
- Interest to be charged on drawings: Salmon, $240; Duncan, $I80; Dayes, $130
- Salaries to be credited: Duncan, $2,000; Dayes, $3,500
- Profits to shared: Salmon, 50%; Duncan, 30%; Dayes 20%
- Current accounts: Salmon, $1,860; Powell, $946; Dayes 717
- Capital accounts: Salmon, $40,000; Duncan, $30,000; Dayes $18,000
- Drawings: Salmons, $9,200; Duncan, $7,100; $Dayes, $6,900
show all workings please
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