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Please assits Bush, Home and Wilson share profits and losses in the ratios 4:1:3 respectively. Their trial balance as at 30 April 20X4 was as

Please assits

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Bush, Home and Wilson share profits and losses in the ratios 4:1:3 respectively. Their trial balance as at 30 April 20X4 was as follows: Sales Returns inwards Purchases Carriage inwards Stock 30 April 20X3 Discounts allowed Salaries and wages Bad debts Provision for doubtful debts 30 April 20X3 General expenses Business rates Postage Computers at cost Office equipment at cost Provisions for depreciation at 30 April 20X3: Computers Office equipment Creditors Debtors Cash at bank Drawings: Bush Home Wilson Current accounts: Bush Home Wilson Capital accounts: Bush Home Wilson Dr 10,200 196,239 3,100 68,127 190 54,117 1,620 1,017 2,900 845 8,400 5,700 51,320 5,214 39,000 16,000 28,000 2,117 494, 106 Cr 334,618 950 3,600 2,900 36,480 5,940 9,618 60,000 10,000 30,000 494,106 (i) Stock 30 April 20X4, 74,223. (ii) Business rates in advance 200; Stock of postage stamps 68. (iii) Increase provision for doubtful debts to 1,400. (iv) Salaries: Home 18,000; Wilson 14,000. Not yet recorded. (v) Interest on Drawings: Bush 300; Home 200; Wilson 240. (vi) Interest on Capitals at 8 per cent. (vii) Depreciate Computers 2,800; Office equipment 1,100. Required: 1. Prepare The Income Statement & Appropriation Account for the period ended 30 April, 20X4. 2. Prepare the Partners current accounts 3. Prepare a statement of financial position for the year ended 30 April, 20x4 531

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