SECTION B Instruction: Complete ALL questions from this section. Question 1 Huda and Anum are partners sharing profit and losses in the ratio of 3:2. On 1st April, 2019 their capitals were: Huda was $80,000 and Anum $40,000. Prepare a Profit and Loss Appropriation Account and the Partners Capital Accounts at the end of April 30th, 2020, after considering the following items: A. Interest on Capital is to be allowed 5% per annum. B. Interest on the loan advanced by Huda of $6,000 and Anum $4,500. C. Interest on partners drawings at 6% p.a. Drawing: Huda $20,000 and Anum $15,000. D. $7,100 is to be transferred to the Reserve Account. The net profit for the end of year April 30th, 2020 was $46,500. (Total 20 marks) Question 2 The following information related to Mr. William for the year ended 30 September 2005: $ Interest charged to debtors 326 Carriage charged to debtors 3,290 Cash purchases 12,735 Returns inwards 1,938 Bad debts written off 853 Cheque payments to suppliers 64,320 Discount received 1,717 Allowance to debtor for damaged goods 500 Cash sales 76,321 Debtors cheques dishonoured 2,639 Purchases Returns 1,222 Credit sales 132,845 Discount allowed 3,699 Transfer of debit balance in Sales Ledger to Purchases Ledger 2,850 Credit purchases 70,394 Cheques received from debtors 144,820 Debit balances in Purchases Ledger at 30 September 2005 563 Credit balances in Sales Ledger at 30 September 2005 2,154 Provision for Doubtful debts 4,500 Balances in the books of Mr William at 1 October 2004: Sales Ledger Debit: $43,628 Credit: $1,240 Purchases Ledger Debit: $324 Credit: $24,695 Required: Prepare the Purchases Ledger Control Account and Sales Ledger Control Accounts as they would appear in the General Ledger of Mr William for the year ended 30 September 2005.