Prepare the Profit and Loss Appropriation Account and the Partners Capital Accounts. please do it in the schedule With my gratitude to you

Section 2 (5 Marks) [CLO 3] Answer the following question: On 1 January 2012, Crise and Haris entered into a partnership, contributing $360,000 and $440,000 respectively and sharing profits in the ratio of 1:2. Haris is to be allowed a salary of $80,000 per year. Interest on capital is to be allowed at 10% per annum. Both partners are entitled to receive a commission of $40,000 each. During the year, Crise withdrew $32,000 and Haris $36,000; interest on the same being 12% per annum. Profit in 2012 before the above mentioned adjustments was $160,000. Crise is to be allowed a salary of $60,000 per year. Prepare the Profit and Loss Appropriation Account and the Partners' Capital Accounts. Particulars Amount $ Particulars Amount $ Particulars Amount $ Particulars Amount $ Particulars Amount $ Particulars Amount $