Question

Page 2 of 2
Aung and Khin are in partnership. The partnership agreement states that they share profits and losses in the ratio 3:2
respectively.
Interest is charged on drawings (excluding partnership salary) at the rate of 5%. A salary of $9000 per annum is
paid to Khin.
The following balances were extracted from the books on 30 September 2018.
$
50 000
50 000
3 000 Debit
6 000 Credit
9 000
14 000
140 000
42 000
64 000
Capital accounts
Aung
Khin
Current accounts at 1 October 2017
Aung
Khin
Drawings
Aung
Khin
Land and buildings (at cost)
Motor vehicles (at cost)
Office equipment (at cost)
Provisions for depreciation at 1 October 2017
Land and buildings
Motor vehicles
Office equipment
Provision for doubtful debts
896 Bank loan (repayable 31 March 2020)
Bank interest paid
Bank
Revenue
Purchases
Returns inwards
Trade payables
Trade receivables
Inventary at 1 October 2017
Marketing expenses
Other operating expenses
Wages and salaries
Motor vehicle expenses
Commission receivable
Rent paid
Addional formation at 30 September 2018
29 600
10 000
46 000
500
60 000
3 500
5 200 Debit
309 000
174 000
9 100
45 200
31 000
19 700
25 000
17 250
40 SOO
9 200
12 250
12 000
2
2
3
Inventory was valued at $36 000
Marketing expenses prepaid were $4000,
Carosion recevable of $1750 was due.
Deprecations to be charged on a non-current assets as follows:
Building at the rate of 4% per annum an cost. The land cost $60 000 and is not depreciated.
Motor vehicles at the rate of 25% parannum using the diminishing (reducing) balance method
equipment at the rate of 10% per annum or cost.
The salary on was paid and recorded in the wages and salaries account.
A menesco made twy cheques a trade supplier, had not been recorded in the books.
Predeceivabo 55000 wereinecoverable. The provision for doubtfuldebes is to be mistained at
*** prepare the income statement and appropriate account of Aung and thin for the year ended 10
151
me und Apergration est ter the year and 30 ember 2016
less to the varende * feptember 2013. nemes and window​

Answer 1

Answer:

dg ai thidhi djs all

Explanation:

dhut sap chif all zip