Question: Please assist REQUIRED Use the information provided below to prepare the Statement of Changes in Equity of Sunray Traders for the The following must be
REQUIRED Use the information provided below to prepare the Statement of Changes in Equity of Sunray Traders for the The following must be considered: (a) On 28 February 2023 the Statement of Comprehensive income reflected a net profit of R1 400000. (b) The partners are entifled to interest at 15% p.a. on their capital balances. Note: Raymond decreased his capital contribution by R200 000 on 31 August 2022 whilst Sunny hareased his capita? [balance by the same amount on 01 December 2022 . These capital changes have been recorded. (c) The partiers are entsted to the following monthly salaries: Sunny R25 000 Raymond R20000 (d) Raymond is entifod to a bonus equil to 10% of his annual salary. (e) The remaining profitshortall must be shared between Sunny and Raymond in the ratio of the capital balances as at the beginning of the financial yeat
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
