Shaima, Marwa and Maria started a partnership firm on January 1, 2019. They contributed RO. 40,000, RO. 30,000 and RO. 25,000 respectively as their capitals and decided to share profits in the ratio of 3:2:2. The partnership deed provided that Shaima is to be paid salary of RO. 1,500 p.m. and Marwa commission of RO. 4,000. It also provided that interest on capital be allowed @ 7% p.a. The drawings for the year were: Shaima RO. 5,000, Marwa RO. 4,000 and Maria RO. 2,000. Interest on drawings was RO. 300 for Shaima, RO.240 for Marwa and RO. 90 for Maria. The net amount of profit as per the profit and loss account for the year ended 2001 was RO. 33,400.

prepare journal entries , partners capital account in fixed method and Profit and Loss Appropriation Account