Saif, Ali and Khan are in partnership and their trial balance for the year ended 31...

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Saif, Ali and Khan are in partnership and their trial balance for the year ended 31 December 2021 was as follows. Motor van at costs Office equipment at cost Accumulated depreciation at 1 January 2021 Motor vans Office equipment Sales and purchases Carriage inwards Inventory at 1 January 2021 Discount allowed Returns inwards Bad debts Provision for bad debts- General expenses Rent Postages Motor expenses Salaries and wages Drawings: Saif Ali Khan DEBIT RM 43,750 29,400 480,165 5,250 149,975 385 23,800 4,319 3,308 8,978 8,575 13,790 64,036 44,135 29,460 21,756 CREDIT RM 14,700 9,450 736,750 2,800 Current account at 1 January 2021 Saif Ali Khan Account receivables and payables Cash at bank Capital account: Saif Ali Khan The following additional information is also available: (a) Inventory at 31 December 2021 was RM 108,710. (b) (c) (d) (e) (f) (h) 536 130,123 2,330 (i) (ii) (iii) 1,064,071 7,260 4,865 85,246 105,000 56,000 42,000 1,064,071 Rent of RM 1,420 was paid in advance at 31 December 2021 The provision for bad debts is to be increase to RM 3,045. The depreciation charge for the year ended 31 December 2021 is RM 11,750 for motor vans and RM 9,880 for office equipment. Partner salaries as follows: Saif RM 14,200, Ali RM 12,450 and Khan RM 13,500. Interest on drawings is: Saif RM 3,595, Ali RM 3,385 and Khan RM 5,420. Interest on each partner's capital is to be allowed for at 10% per annum Saif, Ali and Khan have agreed that profits and losses should be shared in the ratio 1:3:2 respectively. Required: You are required to prepare the following statements for the partnership for the year ended 31 December 2021. The income statement and the appropriation account for the allocation of profits. Current account of partners The statement of financial position for the year ended. Saif, Ali and Khan are in partnership and their trial balance for the year ended 31 December 2021 was as follows. Motor van at costs Office equipment at cost Accumulated depreciation at 1 January 2021 Motor vans Office equipment Sales and purchases Carriage inwards Inventory at 1 January 2021 Discount allowed Returns inwards Bad debts Provision for bad debts- General expenses Rent Postages Motor expenses Salaries and wages Drawings: Saif Ali Khan DEBIT RM 43,750 29,400 480,165 5,250 149,975 385 23,800 4,319 3,308 8,978 8,575 13,790 64,036 44,135 29,460 21,756 CREDIT RM 14,700 9,450 736,750 2,800 Current account at 1 January 2021 Saif Ali Khan Account receivables and payables Cash at bank Capital account: Saif Ali Khan The following additional information is also available: (a) Inventory at 31 December 2021 was RM 108,710. (b) (c) (d) (e) (f) (h) 536 130,123 2,330 (i) (ii) (iii) 1,064,071 7,260 4,865 85,246 105,000 56,000 42,000 1,064,071 Rent of RM 1,420 was paid in advance at 31 December 2021 The provision for bad debts is to be increase to RM 3,045. The depreciation charge for the year ended 31 December 2021 is RM 11,750 for motor vans and RM 9,880 for office equipment. Partner salaries as follows: Saif RM 14,200, Ali RM 12,450 and Khan RM 13,500. Interest on drawings is: Saif RM 3,595, Ali RM 3,385 and Khan RM 5,420. Interest on each partner's capital is to be allowed for at 10% per annum Saif, Ali and Khan have agreed that profits and losses should be shared in the ratio 1:3:2 respectively. Required: You are required to prepare the following statements for the partnership for the year ended 31 December 2021. The income statement and the appropriation account for the allocation of profits. Current account of partners The statement of financial position for the year ended.