Please do : Profit and Loss Appropriation and Balance Sheet

3. Tanker Brothers Trading's Trial Balance as at 31 December 2003 is shown below: Tanker Brothers Trading Trial Balance as at 31 December 2003 Debit Credit $ 30,000 20,000 2.000 5,000 1,000 3,000 12,000 Capital (1 Januar 2003 OK Tanker SA Tanker Current Account OK Tanker SA Tanker Drawings OK Tanker SA Tanker Trading Account Rates Partner's salary: OK Tanker Bad debts Repairs to van Motor van Provision for depreciation of motor van Debtors and creditors Office equipment Commission Cash Bank Stock (31 December 2005 Furniture 1,500 7.800 700 2.000 25.000 2,500 9,000 8,000 4,000 800 500 2,500 12,000 1,700 75,500 75,500 The Partnership Deed signed by both brothers includes the following clauses: 6) Profit and loss are to be divided according to the ratio of capital invested 3:2 (ii) Interest on capital is to be allowed at 8% per year. (iii) Partner's salary for OK Tanker is $10,000 a year. Additional information: (1) Motor van is to be depreciated at 10% per annum using the diminishing value method. (1) Electricity bill for November and December 2003 amounting to $300 had not been paid. You are required to prepare the (a) Profit and Loss and Appropriation Account for the year ended 31 December 2003; (b) Current Account of OK Tanker and SA Tanker, (c) Balance Sheet as at 31 December 2003. PARERA