(a) Lock, Stock and Barrel are in partnership, making up accounts to 30 June each year. Their profit-sharing agreement specifies that Lock and Barrel should receive annual salaries of £20,000 and £24,000 respectively and that remaining profits or losses should be divided equally. The partnership has an adjusted trading profit of £26,000 in the year to 30 June 2023. Show how this will be allocated between the partners.

(b) Rod, Pole and Perch are in partnership, also making up accounts to 30 June each year. Their profit-sharing agreement specifies that Perch should receive an annual salary of £25,000 and that remaining profits or losses should be shared in the ratio 3:2:1. The partnership has an adjusted trading loss of £5,000 in the year to 30 June 2023. Show how this will be allocated between the partners.