Question Five Sam, Charles and Harry are in partnership and share profits equally. The business made a net profit available for appropriation of Tshs 99,189,000 for the year ended 31" December 2012. At the beginning of the year, the balances due to the partners on their current and capital accounts were as follows: Capital Account Current Account Tshs Tshs Sam 54,000,000 6,660,000 Charles 54,000,000 5,130,000 Harry 36,000,000 3,528,000 The following information for the year is also available Drawings Tshs Sam 40,860,000 Charles 34,650,000 Harry 15,750,000 Interest on drawings Tshs 1,944,000 1,449,000 1,296,000 Salaries Tshs 22,500,000 16,200,000 The partners have agreed that interest on capital accounts will be allowed at 10% per annum. Required: (a) Prepare the profit and loss appropriation account for the year (b) Prepare the current accounts for the partners for the year. (7.5 marks) (7.5 marks) Activate v Go to Setting