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Mwanza and Tasila are in Partnership. They share profits in the ratio: Mwanza 70 percent Tasila 30 per cent. The following trail balance was extracted

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Mwanza and Tasila are in Partnership. They share profits in the ratio: Mwanza 70 percent Tasila 30 per cent. The following trail balance was extracted as at 31 December 2010 D- G ZMK Office equipment at cost ZMK 9.200 Motor Vehicle at cost 21.400 Provision for depreciation at 31 December 2018 Motor Vehicles 12,800 Office equipment 3.500 Inventory at 31 December 2018 38.410 Accounts receivable and accounts payable 41.940 32.216 Cash at Bank 2,118 Cash in hand 317 Sales 180.400 Purchases 136,680 2730 Salaries 2.130 Office expenses Discount allowed 312 Current accounts at 31 December 2018 Mwanza 7009 Tasila 50.000 Capital accounts: Mwanza 20.000 Tasila 17.500 Drawings: Mwanza Tasila REQUIRED Draw up a set of financial statement for the year ending 31 December 2019 for the panership The following notes are applicable at 31 December 2013 0 Inventory, 31" December 2019 ZMK 41,312 Office expenses owing ZMK 240. Provide for depreciation: motor 25 percent of cost office equipment 20 per cent of Charpenterest of capital at 5 percent Charterest on drawings: Mwana M300. Tas ZM 200

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