Assignment on Outgoing Aye, Bee and Cee are partners sharing profits and losses 6:3:1. Extracts from the partnership deed are as follows: i. Interest at the rate of 6% per annum shall be allowed on fixed capital accounts. No interest shall be allowed on current accounts but 8% per annum is to be charged on any debit balance at the commencement of the year ii. Goodwill shall be valued at 80% of the average annual profits of the previous three years or four years whichever is lower The following are particulars of the partners' accounts: Fixed capitals as Balance on current account at 31" Dec. 07 as at 31 Dec. 07 GH GHE Aye 18,000 5,000 CR 9,000 1,000 CR Cee 3,000 1.200 CR On1" January 2008 the partners agreed to admit Dee into the partnership and he introduced GH3,500 in cash which included his fixed capital of GH3.000. He is to receive a salary of GH1,500 per annum in addition to his share of profit. Aye personally guaranteed that the aggregate of Dee's salary and share of profit shall not be less than GH43,000 per annum. The profits sharing ratios are to be 3:3:3:1 respectively. Agreed profits for goodwill purposes for the past four years are as follows: GHC 2007 16,337 2006 10,255 2005 10.758 14,164 No account for goodwill is to be maintained in the books, adjusting entries for transactions between the partners being made in their current accounts. 2004 The draft accounts for the year ended 31 st December 2008 before taking Dee's salary or interest on partner's accounts show a profit of GH1 7.640. Partners' drawings during the year are: Aye GH6,320, Bee GH4,900 and Dee (including salary) GH42,193 Required a. A statement showing the division of profit for the year ended 31" December 2008 b. The partner's current accounts for the year ended 31" December 2008