Question: QUESTION 2 REQUIRED Use the information provided below to prepare the Statement of Net Investment of Partners for the financial year ended 28 February 2023:


QUESTION 2 REQUIRED Use the information provided below to prepare the Statement of Net Investment of Partners for the financial year ended 28 February 2023: INFORMATION The information given below was extracted from the accounting records of Blueberry Traders, a partnership business with Blue and Berry as parthers, at the end of the financial year 28 February 2023: The following must be considered: (a) The net profit for the financial year ended 28 February 2023 amounted to R500 000 . (b) The partners are entitled to interest at \12 per annum on their capital balances for the first six months of the financial year and \15 per annum for the remaining six months. (c) The partners are entitled to the following monthly salaries: Blue R8 000 Berry R8 500 (d) Berry is entitled to a bonus equal to \5 of the net profit before taking any of the above appropriations into account. (e) The balance of the profit must be shared equally between Blue and Berry. (f) The drawings account of each partner must be transferred to their respective current accounts. QUESTION 2
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