Wayne and Tammi are partners in The Ivy Arrow . The firm has supplied the following details as at December 31, 2017

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Wayne and Tammi are partners in The Ivy Arrow. The firm has supplied the following details as at December31, 2017
DETAILS
DR
CR
Sales
570,000
Wages and Salaries
68,000
Discount Allowed
6,200
Loan Interest
15,000
Creditors
61,315
Return Outwards
8,500
Rent Received
14,000
Purchases
310,200
Debtors
54,350
Provision for Bad Debts
3,200
Telephone Charges
12,000
Bank
79,300
Cash
18,200
Land and Building
220,000
Provision for Depreciation on Building
45,000
Motor Vehicle
290,000
Provision for Depreciation on Motor Vehicle
24,000
Machinery and Equipment
132,000
Provision for Depreciation on Machinery &Equipment
13,200
Capital Wayne
100,000
Capital Tammi
150,000
Current Account Wayne
30,000
Current Accounts Tammi
60,000
Drawings Wayne
20,000
Drawings Tammi
80000
10% Loan
270,000
Building Repairs
39,815
Commission Received
50,000
Opening Stock
34,600
Insurance
21,500
Office Supplies
36,650
1,418,515
1,418,515
Additional information at the end of the year
Land and building
10%
Reducing Balance
Motor Vehicle
10%
Straight Line
Equipment
10%
Reducing Balance
Details of the partnershipagreement included the following
Required : Prepare the following for the year 2020 :