Bush, Home and Wilson share profits and losses in the ratios 4:1:3 repectively. Their trial balance as at 30 April 2020 was as follows:

Part 8 . Partnership accounts and company ac 32.12A Bush, Home and Wilson share profits and losses in the ratios 4:1:3 respectively. Their trial balance as at 30 April 2020 was as follows: Dr E Cr f 334,618 10,200 Sales Returns inwards 196,239 Purchases 3, 100 Carriage inwards 68, 127 Inventory 30 April 2019 190 Discounts allowed 54, 117 Salaries and wages 1,620 Bad debts Allowance for doubtful debts 30 April 2019 950 1,017 General expenses 2,900 Business rates 845 Postage Computers at cost 8,400 Office equipment at cost 5,700 Accumulated depreciation at 30 April 2019: Computers 3,600 Office equipment 2,900 Accounts payable 36,480 Accounts receivable 51,320 Cash at bank 5,214 Drawings: Bush 39,000 Home 16,000 Wilson 28,000 Current accounts: Bush 5,940 Home 2, 117 Wilson 9,618 Capital accounts: Bush 60,000 Home 10,000 Wilson 30,000 494, 106 494, 106 Draw up a set of financial statements for the year ending 30 April 2020. The following notes are relevant at 30 April 2020: (/) Inventory 30 April 2020, 174,223. (ii) Business rates in advance f200; Inventory of postage stamps f68. (iii) Increase Allowance for doubtful debts to f1,400. (iv) Salaries: Home f18,000; Wilson f14,000. Not yet recorded. (v) Interest on Drawings: Bush 1300; Home 1200; Wilson 1240. (vi) Interest on Capitals at 8 per cent. (vii) Depreciate Computers f2,800; Office equipment f1, 100