Os 1. On Jan 1st 2021 A, B and C started a partnership business with the following invensternents : A= $ 10,000 B-$5000 C = $ 10000 C also invetsed a laptop worth $ 1000. Joumalise the above transactions. Qs 2. On Feb 1st 2021 D entered into the partnership business by purchasing Interest of 50 % from C and pays C 12000$ for such admission Journalise this situation. Qs 3. Following were the income and expenses of the firm: Sales 100000$ COGS 10,000$ Expenses Salary 2000$ 5000$ Depreciation on machinary 2000s Salary given to A, B and C is 2000$ each and no slary to D. Int on capital @ 10% on closing capital figures. Prepare the income statement and show distribution of profits to the partners and pass the final journal entry to close the income statement, Os 4. On 31st Decemeber 2021 partners drawing were following A-10005, B 1000$. C-10005, D 1000$ Pass journal entry of the above. I Rent Os 5. Prepare a balance sheet with the following items. Assets Land 10000$ Building 20000S Cash 10000$ AR 1000$ Machinary 5000$ (before depreciation) laptop 1000S Equipment $26500