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PART B Laila, Hakim and Amirul are in partnership sharing profits in the ratio 3:2:1. The partnership agreement includes the following information: a. Interest
PART B Laila, Hakim and Amirul are in partnership sharing profits in the ratio 3:2:1. The partnership agreement includes the following information: a. Interest on capital is at 12% per annum. b. C. d. Salary Amirul is RM8,000 per annum. Interest on drawing is at 6% per annum The interest on loan is 6% per annum Additional information: i. Net profit for the year ended 31 December 2021 was RM26,530. ii. Capital balances as at 31 December 2021 were: Laila Hakim RM22,000 RM10,000 iii. Amirul RM 8,000 Current account balances as at 31 December 2021: Laila RM5,500 Hakim RM (2,700) Amirul RM3,800 iv. Drawings by partners during the year were: Laila RM8,000 Hakim RM6,000 Amirul RM9,000 V. Loan from Laila RM8,000. Required: a. Prepare the Profit and Loss Appropriation Statement for the year ended 31 December 2021. The partners' current account. b. C. The partners' capital account.
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