On 1 July 2025 Roxanne and Asterios formed a partnership with initial capital balances of \($280\) 000 and \($310\) 000 respectively. The Profit or Loss Summary account for the year ended 30 June 2026 disclosed a final credit balance of \($250\) 000.

Required

1. a. Prepare the closing entry to transfer the profit disclosed in the Profit or Loss Summary account to the Profit Distribution account under method 1 and method 2.
2. b. Prepare the closing general journal entry to distribute the profit to Roxanne and Asterios, assuming they have agreed to share profits in the ratio of 2:3.

c. Show how the partners’ equity accounts would appear in the balance sheet of the partnership at 30 June 2026.