Clayton and Hammond are in partnership sharing profits and losses equally. The partnership agreement provides for annual salaries of Clayton: £17,000 and Hammond: £13,000. It also provides for interest on capital of 8 per cent per annum and interest on drawings of 4 per cent per annum.
The following additional information relates to the accounting year ending 30 June 20X9:

The profit for the year shown in the statement of profit or loss for the year ended 30 June 20X9 was £67,500.

Required
Prepare the appropriation account, capital account and current account. Show all the accounts in account format.

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Capital at 1 July 20X8 Current account 1 July 20X8 Drawings-1 October 20X8 - 1 March 20X9 Capital introduced- 1 November 20X8 Loan by Hammond - 1 April 20X9 Clayton £ 90,000 16,850 3,000 5,000 10,000 Hammond £ 60,000 9,470 2,000 1,000 20,000