问答题 Question 9 (Total: 20 marks) X and Y are in partnership sharing profits and losses in the ratio 3:2. They agree to draw interest on their capital at 8% p.a.; an annual salary to Y of $50,000; and interest on drawings at 10% p.a.; and to allow interest on loans from partners at p.a. The capitals of the partners are to be kept intact. The financial information of the partnership as at 31 january 2001 disclosed the following: $ $ Capital : X 1,000,000 Y 600,000 1600,000 Current Accounts : X 52,600 Cr Y 10,420 Cr 63,020 Loan from X 300,000 Net capital employed 1,963,020 The partners took drawings on 1 July 01: X $60,000; Y $ 30,000 Net trading profit for the year ended 31 December 2001 before interest and salaries to partners was $ 250,000. Required: Prepare an Appropriation Account or Statement and the partners’ Current Accounts for the year.