John and Timothy are in partnership sharing profits and losses in the ration $3$:$2$ respectively after crediting their accounts with interest on capital at $10\%$ p$.$a$,$ monthly salaries of Sh $15,000$ and Sh $20,000$ respectively. Interest on drawings is charged at $5\%$ p$.$a$.$ Their trial balance as at $31$st December $2023$ after drawing the Income Statement was as follows:

Dr

Cr

Capital

John

$500,000$

Timothy

$400,000$

Current

John

$20,000$

Timothy

$10,000$

Drawings

John

$225,000$

Timothy

$215,000$

Net Profit

$800,000$

Fixed Assets $($cost$)$:

Land and Buildings

$500,000$

Plant and Machinery

$300,000$

Motor Vehicle

$200,000$

Accumulated depreciation

Land and buildings

$100,000$

Plant and machinery

$50,000$

Motor Vehicle

$50,000$

Debtors

$100,000$

Stock

$200,000$

Cash

$290,000$

Creditors

$100,000$

REQUIRED

i$)$ Draw up the Profit and Loss appropriation account. $(4$ marks$)$

ii$)$ Prepare the Current accounts for John and Timothy $(2$ marks$)$

iii$)$ Prepare the Statement of Financial Position of the partnership as at $31$st December $2023.$

$(4$ marks$)$