195 YUCILION Salem and Muhanna are partners in a firm sharing profit and loss in the ratio of 5:3. The partnership agreement provided the following: Salem is to be paid salary of OMR 1,500 per month Muhanna is to get a commission of 16% of net income per year. Interest on capital is to be allowed @ 4% p.a. Interest on drawings is to be charged @ 5% p.a. The capital of Salem was OMR 140,000 and Muhanna OMR 100,000.Drawings made by Salem and Muhanna are OMR 36,000 and OMR 24,000, respectively. The firm earned a profit OMR 75,000 for the accounting period. Answer the following questions: 2:1 %47.46 X @ 0 RE Answer the following questions: How much is the interest on capital of Muhanna? How much is the interest on drawings of Salem? How much is the commission of Muhanna? How much is the share of Muhanna from the profit after the distribution of salaries, interest on capital and interest on drawing? The entry to record the transfer of Interest on Capital to Profit and Loss Appropriation Account includes