Question

REQUIRED PARTNERSHIPS see the information provided below to prepare the Statement of Changes in East for the you 2014. Use the following format 12 MARKS VS n STATEMENT OF CHANGES I EQUITY FOR THE YEAR ENDED 30 JUNE 2014 Capital Accounts Balance at 30 June 2013 Changes in capital Balance at 30 June 2014 Fuji Fim Full Current Accounts Balance at 30 June 2013 Net profit for the year Interest on Capital Salaries Bonus Profit Share Drawings Balance at 30 June 2014 INFORMATION Extract from the ledger of Fuji-Film Traders on 30 June 2014 350 000 100 000 Capital: Fuji Capital: Film Current alc: Fuji Current a/c: Film Drawings: Fuji Drawings: Film 50000 20 000 90 000 40 000

please assist with partnership calculations step by step

Answer 1

Answers Given data: → on. 30 june 2014. the net porofit foo the year amounted to R 5,20,000 → Interest on Capital @lay. per annun, → Interest rate increases to 15% for the 6 months of the year → Annual salaries fuji - BR 25,000 film - R. 20,000 special bonus equal to 3% of the net profit to film. → fuji decreased his capital contribution 50,000 → porofit cow losses → fuji and film in the oratio 3:2. Capitals: fuji 3,50,000 film a 100.000 Current: fuji - 50.000 film 20.000 Drawings fuji . 90,000 film 40.000

D STATEMENT OF ON 30 JUNE EQUITY AS CHANGES 2014 CAPITAL ACCOUNTS furi FILM Totou 4,00,000 1,00,000 5,00,000 Balance at 30 June 2013 changes in capital 50.000 50.000 Balance at 30 June 2014 3150,000 1,00,000 4.50,000 CURRENT ACCOUNTS full FILM Total Balance at 30 June 2013 1,66.400 (or bic) 1,53, 600 (oor.blog 3,20,000 Coor.ble) Net profit for the Yeau 5,20,000

50 250 13. 500 63.750 Interest on capital | (Mote-1) Salasties 25,000 20.000 45,000 Bonus 26.000 26.000 2.31. 150 1,54, 100 3.85,250 profit share (Note-02] Drawings 90,000 40,000 1,30,000 Balance at 30 June 2014 50.000 20,000 70,000 WORKING NOTE: I. Interest on capital: fiorst 6 months 12% per annum fuji capital balance as on 31 dec 2014: > 4.00,000 x12% * 6112 : 24.000 next 6 months 15% per annum fuji capital balance as on 30 Jun 2014: 3.50, 000 x154. x6/12 226,250 fost

Total = 24,000 +26,250 , 50,250 a filma Capital balance as on 31 dec 2014 = 1,00,000 x 124 x 6/12 = 6000 film. capital balance as on 30 jun 2014.' 100.000 X SY K 6112 27500 Total = 6000 + 7500 >13.500 compotation of polopent shoute: Net profit 5,20,000 less: Interest on (63,750) capital Salaries (45.000) Bonus (26.000) 3,85,250 Paofit share in 3:2 fuji porofit.. 3,85,250 *315 2,31,150 film porofit - 3.85,250x2/5 7 154,100