Case -6 The junior accountant of the firm has prepared the following trial balance as on 31st December 2019 after incorporating gross profit and balance sheet as on 319 December 2019. He has missed a few ledger account balances in preparing the trial balance but included those accounts in the balance sheet. Trial Balance for the year ended 31" December 2019. Debit (OMR) Credit (OMR) 5000 7000 2000 1000 20,000 8.000 Particulars Provision for depreciation - Building Cash Drawings - Ajims Arir Building Tools Bank Loan Interest received Debtors and Creditors Current account - Ajims Arif Gross profit Commission paid Capital - Ajims Arif Total 8000 6000 3000 4000 2000 3000 5000 6000 15,000 9,000 52,000 52,000 Balance Sheet As on December 31" 2019. Amount 5000 4000 Assets Tools Debtors Building Cash Amount 7.000 10,000 13 000 7,000 24,000 Liabilities Creditors Bank loan Capital-Ajims 15,000 Arif - 9000 Current Account Ajims Arif Salary Outstanding 567 2433 1000 37000 37000 The partnership agreement provides for the following information; a) Interest on drawings is charged at 6% per annum. b) Interest on capital is allowed at 10% per annum. You are required to: a. prepare the partnership profit and loss account for the year ended 31" December 2019 (4 marks) b. prepare the partnership appropriation account for the year ended 31st December 2019 (2 marks) c. prepare each partner current account at 31" December 2019 (2 marks) d. State whether the claim is valid if the partnership agreement is silent in the following matters. (2 marks) ) Ajims is an active partner so he wants OMR 10,000 per annum ii) If Arif advanced a loan to the firm, can he claim interest at 10% per annum