SECTION B QUESTION 1 Wong Wai Soon and his wife, Ng I Ling are partners of WongAiNee & Associates, a chartered accountant firm in Kuala Lumpur. The partnership agreement provides for Wong Wai Soon to be paid a salary of RM120,000 per annum, and interest on capital of RM1,200 per annum; and for Ng I Ling to be paid a salary of RM60,000 per annum and interest on capital of RM600 per annum. For the period 1 January 2021 to 30 June 2021 their profit- sharing ratios were 60% to Wong Wai Soon and 40% to Ng I Ling and equally from July 2021. The amount for salary and interest on capital remained the same throughout. The partnership closes its annual accounts on 31 December. The profit and loss account of the partnership for the year ended 31 December 2021 is as follows: