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QUESTION TWO [45] Peter and Pan are partners in Captain Hook Stationers. The list of balances as at 31 December 2022. before additional information was

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QUESTION TWO [45] Peter and Pan are partners in Captain Hook Stationers. The list of balances as at 31 December 2022. before additional information was considered. is as follows: Additional information: 1. On 1 January 2022 Peter increased his capital to R150 000 . The increase was charged to the payables account in error. 2. Peter earns a salary of R8000 per month while Pan earns R4500 per month. The total salaries paid to Pan was incorrectly recorded in the debtors control account. The salaries paid to Peter was correctly accounted. 3. Interest of 15% per year must be provided for on the capital. 4. Interest on current accounts must be provided at 7.5% per year on the opening balances. 5. Interest of 5% is charged on the drawings. 6. The partners share profits and losses in the ratio of capital contributed at the start of the financial year. 7. Office furniture and equipment depreciates at 10% per year on the straight-line method. Depreciation was not yet considered. Required 2.1. Prepare the current account of Peter as at 31 December 2022 [15] 2.2. Prepare the statement of changes in equity as at 31 December 2022 [30]

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