Bo and Hopedeparinas in The Fancy Place. The fimm has provided the following information Endinotes a. Closing Stock is valued at $130,000 b. Wages and salaries is prepaid by $20,000 c. Commission is prepaid by $30,000 d. The rent received is owing by $20,000 e. The provision of bad debts is to be adjuated to 10% of debtors f. Provide for depreciation as follows: Motor vehicle 5% on the Reducing Balance method; and Fistures and Fittings 5% on the Straight Lime mothod g. The partnership agreement allowed for the following i. Interest is to be charged on drawings at 5%p. a ii. Interest is to be paid on capital at 5%p. a ii. Bo.is to be paid a salary of $67,000p. iv. Profit or loss is to be shared in the same ratio as the capital Requiredz a. Prepare the following 1. The Statement of Profit and Loss and Appropriation Account (23 marks) 2. The Current Account (7 marks) 3. The Statement of Financial Position (20 marks) b. Explain the following terms Partnership Deed Parmership Act. c. When compared to a sole propriatorihip state two (6 marks) adusptages axd two disadvantages of a partnership (4 marks) END OF ASSFSSMIFNT