Ryan and Iana are partners sharing profits and losses in the ratio of 6:4 respectively.At the end of the financial year,31 August 2017,the following selected balances were extracted from the books of the partnership after calculation of that year's gross income.

DR CR

Current Accounts

Ryan 6000

Iana 9000

Drawings

Ryan 42000

Iana 30000

Capital Accounts

Ryan 320000

Iana 300000

Inventory @31 August 2017 73000

Loan to the Partnership from Ryan 40000

Non Current Assets

Cost price 960000

Acc.Provision for Depreciation @1 September 2016. 210000

Operating Expenses 88000

Gross Income 327000

Additional Information:

closing inventory at 31 January 2017 had been understated by $5000

Non Current Assets are to be depreciated by 20% per annum,using the reducing balance method.

operating expenses,which were due and remain unpaid at 31 August 2017,totalled $6000

The partnership agreement included the following terms:

Ryan is entitled to receive interest of 10% per annum on his loan to the business.

Iana is to receive a partnership salary of $36000 per annum

3% interest on capital is to be paid to partners.

interest charged on drawings for the year :Ryan$4800;Iana $3400.

Required

(A) prepare the income statement for the partnership for the year 31 August 2017,using the balances and additional information provided.

(B) Prepare the appropriation Account for the Partnership for the year ended 31 August 2017.

(c) Prepare Iana's Current Account for the year ended 31 August .(T Account)