Answer ALL questions. Write your answers in the spaces provided.

1 Ahmed and Malik are in partnership sharing profits and losses equally.

Their partnership agreement allows for interest on capital at 5% per annum and a

partnership salary to Ahmed of $10 000 per annum.

The partners provided the following information for the year ended 31 March 2024.

Account $

Capital accounts – Ahmed

– Malik

50 000

30 000

Current accounts – Ahmed

– Malik

4 500

8 600

Carriage inwards 645

Car...
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