solved:Nana and Amidu after being called to bar, decided to start
Nana and Amidu after being called to bar, decided to start their own law firm, SpecialProsecutor Chambers. They share profits and losses in the ratio of 3:2. The trial balance oftheir firm at 31st December, 2017 is given below:GH GHCapital Account: Nana 82,000Amidu 66,000Current Account: Nana 8,300Amidu 1,800Drawings: Nana 18,000Amidu 12,000Provision for doubtful debts (31/12/16) 2,400Purchases 508,200Turnover 659,300Loan: Amidu 6,500Computers at Cost 58,000Fittings at Cost 12,000Provision for depreciation:Computers 29,600Fittings 5,700Inventory (31/12/2016) 86,800Cash balance 200Office expenses 32,000Vehicle expenses 19,800Cost of motor car (02/01/2017) 8,000Trade receivables 61,000Trade Payables 21,000Bank balance 2,700Wages 36,800Insurance 3,100Discount Allowed 12,800877,000 877,000AccountingBusinessFinancial Accounting