Malica and Kymani are in partnership sharing profits and losses in the ratio $1$:$2.$ The following

balances are given December $31,2022.$

Additional information to be taken into consideration:

Closing inventory $$36,000.$

Fixed assets: Land and Fixtures valued at $$76,000$ and $$454,000$ respectively.

The partnership's cash at the bank is $$84,000.$

The accounts Payables $$56,000$ and accounts Receivable $43,000$

Each partner earns a monthly salary of $$11,000.$

The net profit for the year ended December $31,2022$ is $$601,000$

Interest on Capital is to be paid at the rate of $10\%$ per annum.

Interest on Drawings is to be charged at the rate of $5\%$ per annum. Malica drew cash on

August $31,2022,$ and Kymani drew cash on December $31,2021.$

Accumulated depreciation on Land to December $31,2022$ is $$17,000.$

REQUIRED

$($a$)$ Prepare the Profit and Loss Appropriation Account of Malica and Kymani for the year

ended December $31,2022.$

$($b$)$ Prepare the Fluctuating Capital Account showing the net worth of EACH partner as at

December $31,2022.$

$($c$)$ Prepare the Balance Sheet $($Extract$)$ as at December $31,2022,$ showing the Equity Section

ONLY.