a. Prepare the Current Account for each partner for the financial year.

Amit, Burton and Jones are in partnership sharing profits in the ratio 3:2:1. The partnership's profit for the year ending December 31,2019 was $565,452. The partnership agreement provides for the following: - Interest is to be paid on the partners' opening capital balances at a rate of 5% per annum. - Interest on drawings at a rate of 8% per annum on all drawings during the year. - Partners salaries are as follows: Amit $9,000; Burton $5,000. - During the year, Amit's drawings were $180,000 and Burton's drawings were $72,000. - Jones received commission of $30,000. - At the beginning of the year, the partners' capital and current account balances were