SECTION B This section requires students to prepare the capital accounts, current accounts and appropriation statements of profit or loss for partnership business. You are given the business's unadjusted account balances together with several related information unique to each group to complete the requirements. 1. The terms agreed by partners prior to the commencement of the partnership business as follows: Item Rate per annum Interest on partner's drawing 5% Interest on partner's capital (Please Refer Table A) 3% Interest on loan from partner 6% 2. At the beginning of the accounting year, the partners' current and capital balances were: Partner's Name Current Account Capital Account RM) (RM) Partner A 8,000 100,000 Partner B (5,000 50,000 Partner C 7,000 60,000 3. Partner A has advanced RM50,000 as a loan to the partnership on 1 January 2022. The interest on loan from the partner is still outstanding. The interest on loan is to be treated as an expense 4. Depreciation on machinery at 10% will be charged on annual basis using straight line method. The following balances were extracted from the books of partnership as at the end of the accounting period: RM Machinery (cost) 70,000 Accumulated depreciation on machinery 21.000 5. Each partner is entitled to receive RM12,000 as an annual salary. 6. The partnership adopts the fixed capital structure in maintaining its partners accounts. Notes: Each group is required to use other related partnership business information unique to each group provided in Table A to complete the requirements. Required: a. Current account Capital account Appropriation Statement of Profit or Loss for the yearTABLE A: Additional partnership business information No Particular Group 5 1 Accounting year end 30 June 2022 2 Net Profit or Loss RM350,000 (does not include depreciation charges 3 Additional Capital RM40,000 contributed by Partner B via online banking on 2 February 2022. 4 Interest on capital Calculated on the basis of ending capital (Basis) 5 Drawing made by Took RM800 cash for a friend birthday's cake on 1 March 2022 Partner C 6 Salary to partner Annual salary was paid to Partners A only. 7 Sharing of profit or 5:4:3 Loss Ratio 8 Partner C is guaranteed with a RM95,000 minimum profit