Question 2 Assignment Ubisoft Entertainment is a partnership of exclusive game distributor who specialise in electronic arts and play stations. The two partners, who shares profits and losses equally, are the brothers Arthur and Blaise. The information below pertains to the business activities of the partnership for the year ended 31 December 2020 Ubisoft Entertainment - Trial Balance as at 31 December 2020 Account Capital - Arthur Debit/N$ Credit/N$ Capital - Blaise 100 000 120 000 Current account - Arthur (1 January 2020) 4 000 Current account-Blaise (1 January 2020) 10 000 Drawings Arthur 18 000 Drawings - Blaise 6 000 Long-term loan - Blaise 80 000 Debtors Control 106 600 Allowance for credit losses (1 January 2020) 4 000 Furniture and equipment at cost 70 000 Accumulated Bank depreciation: Furniture and 7 000 106 810 Inventory (Merchandise) (1 January 2020) 161 000 663 246 210 Sales Bad debts recovered Settlement discount received Purchase returns Purchases 401 000 Settlement discount granted 4 800 Advertising cost 8 818 Administrative expenses 64 500 Rental expenses 4 000 Interest expense (long-term loan) 3 600 Salaries and wages 25 000 Stationary 1 200 Insurance Page 12 of 25 2 900 1 700 728 989 056 989 056