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REQUIRED Prepare the Statement of Changes in Equity for the year ended 2 9 February 2 0 2 4 . INFORMATION Charles and Toni are
REQUIRED
Prepare the Statement of Changes in Equity for the year ended February
INFORMATION
Charles and Toni are partners in a business called Charlton Traders. The following information relates
to the financial year ended February :
The following must be considered:
The net profit according to Statement of Comprehensive Income for the year ended February
amounted to R
The partners are entitled to interest on their capitals at a rate of per year. Charles increased
his capital contribution by R on September The capital change has been
recorded.
The partners are entitled to the following salaries:
Charles R per month
Toni R per month
Charles is entitled to a special bonus equal to of the net profit before any appropriations
The remaining profit or shortfall must be shared between Charles and Toni in the ratio :
respectively. Prepare the statement of changes in Equity for the year ended February Information: Charles and Toni are partners in a business called Charlton traders. The following information relates to the financial year ended February
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