QUESTION TWO Meena and Jane are in partnership. Their financial year ends on 31 December. The...

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QUESTION TWO Meena and Jane are in partnership. Their financial year ends on 31 December. The following information is provided to you Extract from the ledger as at 31 December 2021 DR CR (R) (R) Capital: Meena 80 000 Capital: Jane 70 000 Current account: Meena (1 January 2021) 15.000 Current account: Jane (1 January 2021) 16500 Drawings: Meena 17 600 Drawings: Jane 14.000 The following must be considered: a) The net profit for the financial year ended 31 December 2021 amounted to R232000. b) The partners are entitled to interest at 10% per annum on their capital balances. c) Interest on drawings is charged at 5% per annum. d) The partners are entitled to the following monthly salaries: Meena R6 000 Jane R4 800 e) Meena is entitled to a bonus R12 000. f) The balance of the profit must be shared between Meena and Jane in the ratio 3:2 respectively. Required: 2.1 Partnership Appropriation Account. (10) QUESTION TWO Meena and Jane are in partnership. Their financial year ends on 31 December. The following information is provided to you Extract from the ledger as at 31 December 2021 DR CR (R) (R) Capital: Meena 80 000 Capital: Jane 70 000 Current account: Meena (1 January 2021) 15.000 Current account: Jane (1 January 2021) 16500 Drawings: Meena 17 600 Drawings: Jane 14.000 The following must be considered: a) The net profit for the financial year ended 31 December 2021 amounted to R232000. b) The partners are entitled to interest at 10% per annum on their capital balances. c) Interest on drawings is charged at 5% per annum. d) The partners are entitled to the following monthly salaries: Meena R6 000 Jane R4 800 e) Meena is entitled to a bonus R12 000. f) The balance of the profit must be shared between Meena and Jane in the ratio 3:2 respectively. Required: 2.1 Partnership Appropriation Account. (10)