(a)[9]
Prepare the statement of profit or loss for the year ended 31 December 2022. Show your workings in the space on page 4.
(b)[3]
Prepare the appropriation account covering the year ended 31 December 2022.
(c)[8]
Calculate how much Nibras’ current account balance at 31 December 2022 would have changed if no partnership agreement had existed during the year ended 31 December 2022.
(d)[1]
State one reason why interest on drawings is included in a partnership agreement.
(e)[2]
State the double entry used to record interest on drawings. Debit ………… Credit …………
(f)[7]
Advise the partners on which option they should select. Justify your answer by considering both options.