Selected accounts from the trial balance as at 30 June 2019 of the partnership of Amber, Ruby and Gemma are as follows Debit Credit Amber, capital $75,900 Amber, retained earnings 19,200 Ruby, capital 83,500 Ruby, retained earnings 23,700 Gemma, capital 79,900 Gemma, retained earnings 18,100 Loan ABC Bank Ltd 62,900 Gemma, salary $23,700 Advance, Amber (repayable in November 2020) 13,300 Profit or loss summary (after usual adjusting and closing entries for profit determination) 109,500 End of period adjustments for the financial year ended 30 June 2019 have yet to be made as follows 1 The partnership accountant has duly paid cash for Gemma's agreed salary as part time manager ($23,700 p a ) but was uncertain how to charge it 2 Interest accrued to ABC Bank Ltd $1,300 3 Partners have agreed to the following arrangements a) 5 p a interest on fixed capitals b) 7 interest on total drawings for the year, which were Amber $23,700 Ruby 20,700 Gemma 3,700 c) 6 p a interest on advance from Amber d) Profits losses to be shared 2 2 1 by Amber, Ruby and Gemma respectively Question 4 Complete the profit or loss summary account for the year ended 30 June 2019 (Post entries in the order displayed in the problem statement Leave blank any fields following your answers that do not require an entry For example, if there are two rows for entries, and only one entry is required, enter your answer in the first row and leave the second row blank )

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Selected accounts from the trial balance as at 30 June 2019 of the partnership of Amber, Ruby and Gemma are as follows. Debit Credit Amber,

Selected accounts from the trial balance as at 30 June 2019 of the partnership of Amber, Ruby and Gemma are as follows.

	Debit	Credit
Amber, capital		$75,900
Amber, retained earnings		19,200
Ruby, capital		83,500
Ruby, retained earnings		23,700
Gemma, capital		79,900
Gemma, retained earnings		18,100
Loan ABC Bank Ltd		62,900
Gemma, salary	$23,700
Advance, Amber (repayable in November 2020)		13,300
Profit or loss summary (after usual adjusting and closing entries for profit determination)		109,500

End-of-period adjustments for the financial year ended 30 June 2019 have yet to be made as follows.

The partnership accountant has duly paid cash for Gemma's agreed salary as part-time manager ($23,700 p.a.) but was uncertain how to charge it.

Interest accrued to ABC Bank Ltd $1,300.

Partners have agreed to the following arrangements:

a) 5% p.a. interest on fixed capitals.

b) 7% interest on total drawings for the year, which were:

Amber		$23,700
Ruby		20,700
Gemma		3,700

c) 6% p.a. interest on advance from Amber.

d) Profits/losses to be shared 2:2:1 by Amber, Ruby and Gemma respectively.

* Question 4

Complete the profit or loss summary account for the year ended 30 June 2019. (Post entries in the order displayed in the problem statement. Leave blank any fields following your answers that do not require an entry. For example, if there are two rows for entries, and only one entry is required, enter your answer in the first row and leave the second row blank.)