QUESTION 1:

QUESTION 2:

The partners share the profits of the partnership in the ratio of their capital balances. In terms of the partnership agreement, the partners are charged interest on the drawings balance as if drawings took place 3 months before the end of the financial year end, What interest will R Hudson be charged? The partners share the profits of the partnership in the ratio of their closing capital balances. In terms of the partnership agreement, the partners are entitled to a bonus of 10% of the profit before any partners distributions. What bonus will R Hudson receive? (round all answers to the nearest rand)