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
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