required

a/ prepare the profit and loss account and appropriation account of kelly green and rose violet for the year ended 31 december 2011

b/ prepare the partnership balance sheet at 31 decemeber 2011

note: current account details may be included wihtin the balance sheet or n account format outside

Kelly Green and Rose Violet form a partnership. The partners share income and loss in a ratio of 3:2 respectively. The trial balance for the business is listed below: cr 125300 330 14000 Kelly Green and Rose Violet - Trial balance at 31 December 2011 dr Fees (income) Rent 26000 Staff salaries 18600 Sundry expenses 34400 bad debts 1600 provision for doutful debts 1 January 2011 bank 90 office equipment 28000 provision for depreceation of office equipment debtors 18300 creditors capital accounts 1 Jan 2011 Kelly Green Rose Violet current accounts 1 Jan 2011 Kelly Green Rose Violet Drawings Kelly Green 28720 Rose Violet 24140 179850 900 20000 10000 5600 3720 179850 Additional information: 1. Rent paid in advance on 31 December 2011 amounteed to $2000 2. Staff salaries totalling $790 were owing on 31 December 2011 3. Office equipment is depreciated at 50% pa using the diminishing (reducing) balance method 4. the provision for doubtful debts is to be adjusted to 5% of debtors 5. Kelly Green is entitled to a partnership salarry of $6000 for the year