QUESTION 1

4 DARA Partnership is an on-line women accessories business. The business information is taken from the book of accounts for the year ended 31 December 2019:

RM

Beginning capital:	Mazlina	30,000
	Senlily	30,000
	Angela	20,000
	Bingbang	40,000
Current account:	Mazlina	20,000
	Senlily	30,000
	Angela	10,000
	Bingbang	40,000
Partners drawings:	Mazlina	10,000
	Angela	10,000
Annual Salaries:	Mazlina	5,000
	Senlily	5,000

Additional information:

1. The net profit for the year ended 31 December 2019 was RM120,000.
2. The interest on capital and interest on drawings was at 5% and 4% per annum respectively.
3. There was RM5,000 salaries payable to Senlily
4. The partners agreed to share profits and losses based on a capital ratio.

REQUIRED:

1. Prepare the Profit and Loss Appropriation Account of 4 DARA Partnership for the year ended 31 December 2019.

(b) Explain any THREE (3) situations whereby this partnership can be dissolved.

(c) Explain the concept of separate but non-legal entities in partnership.

QUESTION 2

Salah & Betul Co. is a local delivery partnership founded on 1 January 2019. Ahmad Salah & Dilmurat Betul each contributed RM40,000 and RM20,000 respectively to start the business. Both partners have agreed for 10% percent per annum interest on their capital investment. In the first years operation, the partnership managed to record a net profit of RM25,000. The partnership has also endorsed an equal distribution for profit/loss sharing. During the year, they have both withdrawn RM5,000 each. In addition, Salah was entitled to an annual salary of RM5,000 while Betuls was RM7,000.

REQUIRED:

Prepare the profit and loss appropriation account and the partners current accounts for the year ended 31 December 2019.

QUESTION 3

(a) Explain each of the TWO (2) advantages and TWO (2) disadvantages of the characteristics of corporations.

(b) Explain why the issuance of company shares under Companies Act 2016 is no longer carrying a par value.

(c) Cash dividend can both causes the shares market value to increase and decrease. Discuss these situations.

notes: I hope the the answer can be in full fourm and complete and clear