question1 peter and pan are partners in captain hook stationers.the following list of accounts show balances as at 31 december 2022,except for those accounts that have been stated differently.

additional information. year end adjustments 1. on 1 january 2022 peter deposited sufficient money to increase his capital to R150 000. the increase was incorrectly credited to the accounts payable control account. 2.pan was paid a salary of R4 500 per month for the current financial year. all pan's monthly salary payments were incorrectly recorded to the debit of the accounts receivables control account. peter's salary payments of R8 000 per month were recorded correctly. 3.depreciation at the rate of 10% per year on the straight line method on office furniture and equipment needs to be recorded.

relevant information from the partnership agreement. interest must be calculated and recorded at thr followinh rates at the end of each financial period. interest is processed through the partner's current account. interest needs to be taken into account as follows: 1. interest on the partners capital accounts must be calculated at 15% per year 2. interest on current accounts must be provided at 7.5% per year on the opening balances. 3. interest of 5% is charged on the closing balances of the drawings; general accounts. 4. in terms of the partnership agreement peter is entitled to a salary of R8 000 per month and pan is entitled to a salary of R4 500 per month to be appropriated from profits. 5. the partners share profits and losses in the ratio of capitals contributed at the end of business on the first day of the financial year.

required: prepare the following for captain hook stationers for the financial year ended 31 december 2022

1.1 current account: peter- balanced at 31 december 2022. (15 marks)

1.2 statement of changed in equity for the year ended 31 december 2022. use a format suitable to this type of business that clearly shows the appropriation in terms of the clauses ectracted from the partnership agreement as listed above. (30 marks)

QUESTION ONE [45] Peter and Pan are partners in Captain Hook Stationers. The following list of accounts show balances