QUESTION 5 (CHANGES DURING THE YEAR)

REVALUATION ACCOUNT
DEBIT CREDIT BALANCE
(RM) (RM) (RM)

FREEHOLD PROPERTY (INCREASE) 100,000 100,000

MOTOR VEHICLES (DECREASE) 25,000 75,000
INVENTORIES (DECREASE) 15,000 60,000

REVALUATION PROFIT : PARTNERS' CAPITAL STATEMENT

AMY [ 3/6 x RM 60,000 ] 30,000 30,000
EDY [ 1/6 x RM 60,000 ] 10,000 20,000
AYIE [ 2/6 x RM 60,000 ] 20,000 -

APPROPRIATION STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2017

PRE (8/12) POST (4/12)

(RM) (RM)

NET PROFIT [ RM 150,000 x 8/12 ] / [ RM 150,000 x 4/12 ] 100,000 50,000

ADD : INTEREST ON DRAWINGS

AMY [ 8% x RM 6,000 x 8/12 ] / [ 10% x RM 6,000 x 4/12 ] 320 200
EDY [ - ] / [ 10% x RM 5,000 x 3/12 ] - 125
AYIE [ 8% x RM 4,000 x 6/12 ] / [ - ] 160 -
100,480 50,325

LESS : INTEREST ON CAPITAL

AMY [ 6% x RM 100,000 x 8/12 ] (4,000) -
EDY [ 6% x RM 70,000 x 8/12 ] (2,800) -
AYIE [ 6% x RM 85,000 x 8/12 ] (3,400) -

LESS : SALARIES
AMY [ RM 1,535 x 8 ] (12,280)

NET PROFIT BEFORE APPROPRIATION 78,000 50,325

SHARE OF PROFIT : PARTNERS' CURRENT STATEMENT

AMY [ 3/6 x RM 78,000 ] / [ 3/5 x RM 50,325 ] 39,000 30, 195
EDY [ 1/6 x RM 78,000 ] / [ 2/5 x RM 50,325 ] 13,000 20,130
AYIE [ 2/6 x RM 78,000 ] / [ - ] 26,000 -

78,000 50,325
 PARTNERS' CURRENT STATEMENT
AYIE
(RM)

BALANCE B/D (5,000)

ADD :
APPROPRIATION - PROFIT 26,000
INTEREST ON CAPITAL 3,400

CAPITAL STATEMENT 24,400

LESS :
DRAWINGS (4,000)
INTEREST ON DRAWINGS (160)
TRANSFER TO CAPITAL ACCOUNT (20,240)

BALANCE C/D -

PARTNERS' CAPITAL STATEMENT

AYIE
(RM)

BALANCE B/D 85,000

ADD :
REVALUATION PROFIT 20,000
GOODWILL - OPSR 40,000
PARTNERS' CURRENT 20,240

165,240

LESS :
LOAN (10,000)
BANK (155,240)

BALANCE C/D -