Q.1 S, K and Pare in business in Partnership as Machinery Manufacturers. They share Profits as 4:3.3 after allowing for interest at 5% on the balances of their capital accounts at the beginning of each year and after charging Partners salaries at the rate of RO 8,000; RO 6,400; RO 5,600 per annum respectively. They employ a sales manager who is paid a salary of RO 4,800 per annum plus one percent commission on total sales. The following Balances was extracted on 31* December 2020. Capital Accounts S 23,200 K 13,600 P 12.800 Cash at Bank 6,440 Purchase of Raw Material 300,000 Discount Dr. 13,600 Rent and Insurance 9,240 Sundry Creditors 25,200 Factory Expenses 38.000 Office Expenses 2,400 Sundry Debtors 12,800 Furniture 6,400 Telephone 600 Sales 520,000 Opening stock of Raw Material 23,600 Carriage inwards 96,000 Salaries including sales manager 14,400 salary) Repairs to Buildings 800 Bad debts 3,200 Carriage Outwards 3,600 Vehicle 5,200 Drawings S 9,600 K 8,800 P 8.400 Commission Received 4,800 Vehicle running expenses 4,400 Travelling expenses 5.600 Advertising Expenses 7,320 Plant and Machinery 19,200 Additional Information 1. Closing stock was valued at RO 33,680 2. The following expenses were outstanding Office expenses RO 720, Telephone RO 200 3. Depreciation to be provided at the following rates Vehicle 20%, Plant and Machinery 12.5% and Furniture 10% 4. Bad debts to be raised to 2.5 Percent. You are required to draw up a Final Accounts of the Partnership Firm