Miss Zul, Miss Nor and Mr. Said are the owners of ZNS Partnership Their profit sharing ratio is 1:2:2 for Zul, Nor and Said respectively The partnership agreement allows each partner interest on his/her capital account at 6% per annum and any loan from partners will cost the partnership 5% per annum on interest charges. In addition, Nor and Said are entitled to salaries of RM1,000 and RM1, 500 per month respectively The list of account balances as at 31 December 2016 is given below: Stocks as at 31 December 2016: Cost (18, 200), Net realizable value (18, 900) Provision for doubtful debts is fixed at 2% of debtors balance. Rent expense per month is RM1, 500. Depreciation expense on Property, Plant and Equipment is 10% per annum on cost. Aini's portion of current account balance is one third and Said's is 40% Ratio of withdrawals by Aini, Nor and Said is 2:5:1 Capital account is shared by partners based on the capital ratio Prepare the accounts of: trading, profit and loss for the year ended 31 December 2016 profit and loss appropriation for the year ended 31 December 2016 partner's current accounts, in columnar form Explain three consequences if there is no written partnership agreement made among partners in ZNS Partnership