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Interest on capital 8% pa, Salaries to partners : Jaan $4200, Saan $1200, Daan $3000. Profit Sharing Ratio 3:2:1 Extra practice question Using the additional information complete the worksheet and then prepare 1) a statement of distribution of net income, 2) a statement of partner's capital, 3) a simple balance sheet Interest on capital 5% pa, Salaries to partners Danielle $1000,Danny $2000, Daan $3000. Profit Sharing Ratio 1:2:1 Accounts Trial Balance Adjustments Inc St Balance Sheet DR CR DR CR DR CR DR CR Bank 30000 Inventory 18000 25000 25000 Equipment 12000 3000 Acc Payable 8000 18000 Danielle Capital Danny Capital 24000 Daan Capital 18000 3000 Danielle Drawing 2000 Danny Drawing Daan Drawing 3000 Sales 100000 Purchases 85000 General Exp 2000 Rent 10000 Utilities 3000 Depreciation 3000 168000 168000 Partners Income Distribution Statement $ $ $ Net Income Interest on Capital Danielle Danny Daan Salary of partners Danielle Danny Daan Share of Profit/Loss Danielle Danny Daan Partners' Capital Accounts Danielle Danny Daan Opening Balance Add Interest on Capital Add Salary of partners Add share of Profit/Loss Less Drawings Ending balance 3D's Partnership Balance Sheet December 31 2013 Assets $ Bank Inventory Equipment Total Assets Liabilities Account Payable Partners Equity Partners' Capital Danielle Danny Daan