You are a Bookkeeper at GPC Bookkeeping Services. You have been assigned to complete the following clients work following the GPS Bookkeeping Policies and procedures.

Part A: Client 1

Bennett and Barney decide to form a partnership on 01/07/2021. Bennett and Barney operate on an accrual basis with the financial year from 1 July to the 30 June the following year.

Partnership proceeds are divided as Bennett (1/3) and Barney (2/3).

The Partnership provided an extract of their Trial balance and additional pertinent information of the partnership to be incorporated in the preparation of three financial accounts and statements at the close of the first financial year of operating 30 June 2022.

1. Prepare the Profit and Loss Appropriation Account.

Ignore GST for this task.

Trial Balance of Bennett \& Barney as at 30 June 2022 Profit \& Loss Appropriation for Bennett \& Barney for the year ended 30