Thomas & Robert are partners sharing profits and losses equally. The following Trial Balance extracted from their books as at 31/12/2012.

E 4 HOMEWORK - t - Word 121 121 141 161 181 1101 11211141 1161 1181 1201 1221 1241 1261 1281 1301 1321 1341 1361 1381 14 Thomas & Robert are partners sharing profits and losses equally. The following Trial Balance extracted from their books as at 31/12/2012. DR CR 4.120 5.000 8.000 760 910 320 270 4.380 ACCOUNT Stock 1 January 2012 Capital Account Thomas Robert Drawings Thomas Robert Current Accounts Thomas Robert Debtors & Creditors Wages & Salaries Partnership Salary Thomas Purchases & Sales Cash in Hand Cash at Bank Rates and Insurances Rent Bad Debts Furniture & Fittings Office Furniture General Expenses TOTALS 6.760 3.730 500 15.630 70 1930 390 30.550 750 210 11800 500 460 48.520 48.520 NOTES 1. Stock 31 December 2012 - 5.2004 2. Rates & Insurances prepaid - 50 and Rent due 100.- OMEWORK - Mat - Word 9 1381 1401 1 121 141 161 181 1101 112 1141 1161 1181 1201 1221 1241 1261 1281 1301 1321 1341 1361 Fumiture & Fittings 11800 Office Furniture 500 General Expenses 460 TOTALS 48.520 48.520 NOTES 1. Stock 31 December 2012 - 5.2004 2. Rates & Insurances prepaid - 50 and Rent due 100.- 3. 8% interest is allowed on the Capital. 4. Capital accounts remained fixed. REQUIRED: Trading and P&L A/cs, Appropriation A/c, Balance Sheet SOLUTION Thomas & Robert Trading and Profit & Loss A/cs for the year ended 31 Dec 2012 le IL 1201 1221 1241 1261 1281 1301 1181 1321 1341 1361 1381 3401 121 141 161 181 1101 11211141 1161 Thomas & Robert APPROPRIATION A/c For the year ended 31 Dec 2012 le le le le e I Thomas & Robert BALANCE SHEET As At 31 Dec 2012 Fixed Assets Capital A/cs Thomas Roberts 4 Current Assets Current A/cs e ]6 [ le le E e LLC le le Current Liabilities