QUESTION 6. Mwanza and Tasila are in Partnership. They share profits in the ratio: Mwanza 70 per cent; Tasila 30 per cent. The following trail balance was extracted as at 31st December 2019. Cr ZMK Dr ZMK 9.200 21,400 12,800 3,600 32.216 38,410 41,940 2,118 317 180,400 Office equipment at cost Motor Vehicle at cost Provision for depreciation at 31st December 2018 Motor Vehicles Office equipment Inventory at 31st December 2018 Accounts receivable and accounts payable Cash at Bank Cash in hand Sales Purchases Salaries Office expenses Discount allowed Current accounts at 31st December 2018 Mwanza Tasila Capital accounts: Mwanza Tasila Drawings: Mwanza Tasila 136,680 27,400 2,130 312 7,382 7,009 50,000 20,000 17,500 16,000 313,407 313,407 REQUIRED. Draw up a set of financial statement for the year ending 31st December 2019 for the partnership. The following notes are applicable at 31st December 2019. (i) Inventory, 31st December 2019 ZMK 41,312 (ii) Office expenses owing ZMK 240. (ii) Provide for depreciation: motor 25 per cent of cost, office equipment 20 per cent of cost. (iv) Charge interest of capital at 5 per cent. () Charge interest on drawings: Mwanza ZMK 300; Tasila ZMK200