Question 1 Bee and Cee are in partnership sharing profits and losses in the ratio 3/5: 2/5, respectively. The following is their trial balance as at 30 September 2018. DR CR GHC GHC Buildings 160,000 Fixtures at cost 16,200 Accumulated depreciation: Fixtures 5,800 Debtors 63,500 Creditors 59,400 Cash at bank 6,130 Stock at 30 September 2017 62,740 Sales 363,000 Purchases 210,000 Carriage outwards 3,500 Discounts allowed 630 Office expenses 4,800 Salaries and wages 57,800 Bad debts 1,700 Capitals: Bee 125,000 Cee 88,000 Current accounts: Bee 4,100 Cee 1,700 Drawings: Bee 31,800 Cee 28,200 647,000 647,000 Additional information; i. Stock, 30 September 2018, GHC 74,210. ii. Expenses to be accrued: Office Expenses GHC 215; Wages GHC 720. iii. Depreciate fixtures 15 per cent on cost, buildings GHC 5,000. iv. Partnership salary: GHC 30,000 to Bee. Interest on drawings: Bee GHC 900; Cee GHC 600. vi. Interest on capital account balances at 5 per cent. Required: a) Prepare a trading and profit and loss account for the year ended 30 September 2018. 10 marks b) appropriation account for the year ended 30 September 2018. 5 marks c) a balance sheet as at 30 September 2018. 15 marks d) Explain 3 advantages and 3 disadvantages of partnerships. 10 marks V