Karanteng and Dangush who make up their accounts to 30th September in each year carried on a partnership business under the name KWARA. Their agreement provided for the following Profits and lossessed in the ratio of 2.1 for Kerasand Daquah respectively Interest on capital accounts fundat per annum, and interest is charged on current account On admin e retirement of a partner the change takes place during any accounting year, such partner's share of profits or losses for the period up to tirement is to be alived at byportiorment on a time basiert where therwise agreed No podwill out to be maintained in the tow's books Any balance due to an outgoing partner is to waters of per annum from the date of retirement to the date of parent Keranteng retired from the firm on 31st March 2005 and the same day,Dangus took into partnership Yeboah, an employee of them. It was agreed that the terms of the previous partnership greement should apply in all respects excest that as from that date, profits and losses are to be shared between Daquah and Yeboah in ratio of 32 The trial balance of extracted from the books of the first on September 2005 was as follows GHE Capital Accounts (1/2006 Karantang Dengah Current Accounts Korting 2.400 Danguah 10 Yeboah: Cathroduced a capital (32/03/2005 3.000 Mantand Machinery at cost 14.000 Motor Vehicles at.com Provision for depreciation (30/09/2004 Mantand Machinery 2.800 Motor Vehicles Purchase Stock (30/09/2004 12,400 Wages of offices Salaries 30.00 Sundry expenses Dettore Sales Creditors Rent and rates Badets 600 Balance at bank Total Additional information 1. Goodwill was valued at GMC12.000 2. On March 31st 2005, Veoah had paid Kranteng GHE5,000 an account of the balance de him on retirement. No entries had been made in respect of the payment. The balance de Korante atter taking into account this payment remained unpaid as 30 September 2005 3 Krantengon retirement took over one of the firm's motor vehicle which 1.400 und hat accumulated depreciation of GHC625 up to 20th September 2004. It was agreed to charge Karten for 4. The stock as on 30th September 2005 won valued at GH54.200 S. Partners drawings which are included in salaries were as follows. Korang GHCL.200, Danquah GHC2,400; Yeboah GO 6. Salaries also included GHC1,200 paid to Yeboah prior to his beaded as partner and which amount is to be charged against the profits of the first half year 7. Professional charges of GHZS included in sundry expenses respectically butable to the second half of the year # The whole of the charge of GC for bed debts related to the period to March 2005 9 A bad debts provision specifically trhutable to the cond half of the year of of the total debtors is to be made a September 2005 10. As yoth September 2005, ent paid in advance amountd 10 cand sundry and amounted RC1011 Provon to be made for depreciation on plant and machinery and en motor whicles at the rates of to and perspectively online best You are required to prepare The truding and profit and less account for the year ended on September 2005 b) Partners' Capital Account and Current Accounts covering the year ended 30th September 2005 The Balance Sheet as 30th September 2005 Karanteng and Dangush who make up their accounts to 30th September in each year carried on a partnership business under the name KWARA. Their agreement provided for the following Profits and lossessed in the ratio of 2.1 for Kerasand Daquah respectively Interest on capital accounts fundat per annum, and interest is charged on current account On admin e retirement of a partner the change takes place during any accounting year, such partner's share of profits or losses for the period up to tirement is to be alived at byportiorment on a time basiert where therwise agreed No podwill out to be maintained in the tow's books Any balance due to an outgoing partner is to waters of per annum from the date of retirement to the date of parent Keranteng retired from the firm on 31st March 2005 and the same day,Dangus took into partnership Yeboah, an employee of them. It was agreed that the terms of the previous partnership greement should apply in all respects excest that as from that date, profits and losses are to be shared between Daquah and Yeboah in ratio of 32 The trial balance of extracted from the books of the first on September 2005 was as follows GHE Capital Accounts (1/2006 Karantang Dengah Current Accounts Korting 2.400 Danguah 10 Yeboah: Cathroduced a capital (32/03/2005 3.000 Mantand Machinery at cost 14.000 Motor Vehicles at.com Provision for depreciation (30/09/2004 Mantand Machinery 2.800 Motor Vehicles Purchase Stock (30/09/2004 12,400 Wages of offices Salaries 30.00 Sundry expenses Dettore Sales Creditors Rent and rates Badets 600 Balance at bank Total Additional information 1. Goodwill was valued at GMC12.000 2. On March 31st 2005, Veoah had paid Kranteng GHE5,000 an account of the balance de him on retirement. No entries had been made in respect of the payment. The balance de Korante atter taking into account this payment remained unpaid as 30 September 2005 3 Krantengon retirement took over one of the firm's motor vehicle which 1.400 und hat accumulated depreciation of GHC625 up to 20th September 2004. It was agreed to charge Karten for 4. The stock as on 30th September 2005 won valued at GH54.200 S. Partners drawings which are included in salaries were as follows. Korang GHCL.200, Danquah GHC2,400; Yeboah GO 6. Salaries also included GHC1,200 paid to Yeboah prior to his beaded as partner and which amount is to be charged against the profits of the first half year 7. Professional charges of GHZS included in sundry expenses respectically butable to the second half of the year # The whole of the charge of GC for bed debts related to the period to March 2005 9 A bad debts provision specifically trhutable to the cond half of the year of of the total debtors is to be made a September 2005 10. As yoth September 2005, ent paid in advance amountd 10 cand sundry and amounted RC1011 Provon to be made for depreciation on plant and machinery and en motor whicles at the rates of to and perspectively online best You are required to prepare The truding and profit and less account for the year ended on September 2005 b) Partners' Capital Account and Current Accounts covering the year ended 30th September 2005 The Balance Sheet as 30th September 2005