please do question Number 25

Q25

From the following particulars of partners David and John who were sharing profits in the ratio of 2:3, prepare Capital Accounts: David John Capital on 1 Jan 2011 $70,000 $50,000 $700 per month $ 500 per month (Drawn on 1st day of the (Drawn on last day of every month) the every month) Drawings Interest on Loan $5,000 $ 8,000 Interest on Capital @ 5%p.a ? ? Interest on Drawings @ 8%p.a ? ? Profit share of 2011 $30,000 $35000 Zee Learn Limited earned a profit of $ 40,00,000 during the year 2019-20. Company created a general reserve of $ 7,00,000 and dividend equalization reserve $ 12,00,000 out of profits. Pass the necessary journal entry for the creation of reserves