salaries of Clay:

17,000

and Ham:

13,000

. It also provides for interest on capital of 8 per cent per annum and interest on drawings of 4 per cent per annum.\ The following additional information relates to the accounting year ending 30 June

20\\\\times 3

:\ \\\\table[[,Clay,Ham],[,E,E],[Capital at 1 July

20\\\\times 2

,90,000,60,000],[Current account at 1 July

20\\\\times 2

,16,850,9,470],[Drawings - 1 October

20\\\\times 2

,3,000,2,000],[-1 March

20\\\\times 3

,5,000,1,000],[Capital introduced - 1 November

20\\\\times 2

,10,000,-],[Loan by Ham (

5%

interest)-

1Ap

,-,20,000]]\ The profit for the year shown in the statement of profit and loss for the year ended 30 June

20\\\\times 3

was

67,501

salaries of Clay: 17,000 and Ham: 13,000. It also provides for interest on capital of 8 per cent per annum and interest on drawings of 4 per cent per annum. The following additional information relates to the accounting year ending 30 June 20X3: The profit for the year shown in the statement of profit and loss for the year ended 30 June 203 was 67,501 salaries of Clay: 17,000 and Ham: 13,000. It also provides for interest on capital of 8 per cent per annum and interest on drawings of 4 per cent per annum. The following additional information relates to the accounting year ending 30 June 20X3: The profit for the year shown in the statement of profit and loss for the year ended 30 June 203 was 67,501