Three partners. Ankamah, Kofi and David share profit and losses in the ratio 5: 3:2 for...

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Three partners. Ankamah, Kofi and David share profit and losses in the ratio 5: 3:2 for the year ending 31/12/2016. The profit generated from either business is $600,000. Partners' contributions are as follows: Ankamah $34,000, Kofi is three times of that of David whose is $25,000. Drawing for the year for each partner is Ankamah $12,000 and Asana $13,200 from May to November. Interest on drawings is to be calculated at 14% per year. Required; 1. Show the current account of each partner at year end 2015 2. The capital account of each partner Three partners. Ankamah, Kofi and David share profit and losses in the ratio 5: 3:2 for the year ending 31/12/2016. The profit generated from either business is $600,000. Partners' contributions are as follows: Ankamah $34,000, Kofi is three times of that of David whose is $25,000. Drawing for the year for each partner is Ankamah $12,000 and Asana $13,200 from May to November. Interest on drawings is to be calculated at 14% per year. Required; 1. Show the current account of each partner at year end 2015 2. The capital account of each partner Three partners. Ankamah, Kofi and David share profit and losses in the ratio 5: 3:2 for the year ending 31/12/2016. The profit generated from either business is $600,000. Partners' contributions are as follows: Ankamah $34,000, Kofi is three times of that of David whose is $25,000. Drawing for the year for each partner is Ankamah $12,000 and Asana $13,200 from May to November. Interest on drawings is to be calculated at 14% per year. Required; 1. Show the current account of each partner at year end 2015 2. The capital account of each partner Three partners. Ankamah, Kofi and David share profit and losses in the ratio 5: 3:2 for the year ending 31/12/2016. The profit generated from either business is $600,000. Partners' contributions are as follows: Ankamah $34,000, Kofi is three times of that of David whose is $25,000. Drawing for the year for each partner is Ankamah $12,000 and Asana $13,200 from May to November. Interest on drawings is to be calculated at 14% per year. Required; 1. Show the current account of each partner at year end 2015 2. The capital account of each partner

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