Assignment Topic Question No:1 Mr. Suhail and Mr. Said decided to start a partnership business. They drafted a partnership deed with the help of a consultant and started the business on 01.11.2020 Some of the key extracts of the partnership deed is given as follows: Resolved that.. a. Each partner is to bring in OMR 15000 as capital b. Each partner is to get 5% interest on capital c. Mr. Suhail is entitled to get a salary of OMR 400 per month d. Firm is entitled to charge 6% interest per annunt on partner's drawings Summary of transactions: November: 2020 a Capital contribution: Mr. Suhail -OMR 15000;Mr. Said: OMR 15000 b. Purchase of goods- OMR 8000 c. Sales of goods- OMR 18000 d. Wages. OMR 200 e. Salary to employees-OMR 1200 f. Other administrative expenses. OMR 800 g. Rent of building-OMR 1000 h. Electricity charges OMR 15 i. Water charges-OMR 5 j. Travelling expenses- OMR 50 k. Furniture purchase-OMR 1500 1. Electrical fittings- OMR 200 m. Drawings of partners-: Suhail-OMR 200: Said OMR 150 n. Salary to Suhail- OMR 400 December 2020: a. Salary to employees-OMR 1200 b. Rent of building-OMR 1000 c. Electricity charges- OMR 12 d. Water charges- OMR 4 e. Travelling expenses- OMR 20 f. Other administrative expenses OMR 200 g. Salary to Mr Suhail-OMR 400 h. Purchase of goods- OMR 10000 i. Sales of goods OMR 18000 Closing stock at the end of the year is valued at OMR 20000 Required: a. Trading, profit and loss account for the year ended 31 December 2020 b. Profit and loss appropriation account for the year ended 31" December 2020 c. Partner's Capital account as per fluctuating method 4. Balance sheet of the firm as on 31.12.2020