Balance in the General ledger of Andrea and Anne at the financial year end 30 September...

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Balance in the General ledger of Andrea and Anne at the financial year end 30 September 2022 Account Capital Andrea (1/10/2021) Capital Anne (1/10/2021) Current Account Andrea(1/10/2021) Current Account Anne (1/10/2021) Drawings Andrea Drawings Anne Net profit for the year Property, Plant and Equipment Debit (R) Credit (R) 2 295 846.55 2013 955.25 459 169.31 402 791.05 229 584.66 201 395.53 12 929 405.40 16 751 848.76 Appropriations according to the partnership agreement at the financial year end 30 September 2022 1. Interest on Capital must be appropriated at 8.25% p.a. Capital account balances remain constant 2. Interest on drawings must be appropriated at 10.25% p.a, as if the drawings were made 5 months prior to the year end of financial year 3. Interest on current account must be appropriated at 9.50% p.a (on opening balances 4. Both partners must receive an annual salary at the end of the financial year. a. Andrea - R1 939 410.81 b. Anne - R2 456 587.03 5. Anne received an annual bonus at the end of the financial year: R517 176.22 6. The remaining profit must be shared between Andrea and Anne at a ratio of 3:2 respectively. Required: Prepare the following iedger accounts for both partners at the financial year end 30 Šeptember 2022 Appropriate Account Current Account Andrea (i) (ii) Current Account Anne Balance in the General ledger of Andrea and Anne at the financial year end 30 September 2022 Account Capital Andrea (1/10/2021) Capital Anne (1/10/2021) Current Account Andrea(1/10/2021) Current Account Anne (1/10/2021) Drawings Andrea Drawings Anne Net profit for the year Property, Plant and Equipment Debit (R) Credit (R) 2 295 846.55 2013 955.25 459 169.31 402 791.05 229 584.66 201 395.53 12 929 405.40 16 751 848.76 Appropriations according to the partnership agreement at the financial year end 30 September 2022 1. Interest on Capital must be appropriated at 8.25% p.a. Capital account balances remain constant 2. Interest on drawings must be appropriated at 10.25% p.a, as if the drawings were made 5 months prior to the year end of financial year 3. Interest on current account must be appropriated at 9.50% p.a (on opening balances 4. Both partners must receive an annual salary at the end of the financial year. a. Andrea - R1 939 410.81 b. Anne - R2 456 587.03 5. Anne received an annual bonus at the end of the financial year: R517 176.22 6. The remaining profit must be shared between Andrea and Anne at a ratio of 3:2 respectively. Required: Prepare the following iedger accounts for both partners at the financial year end 30 Šeptember 2022 Appropriate Account Current Account Andrea (i) (ii) Current Account Anne

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Answer Solution i Appropriation Account Description Debit Description Credit Interest on capital And... View the full answer