A Level Accounting (9706)•9706/13/M/J/21
Explanation
Missing drawings data prevents full calculation
Steps:
- Note opening debit balance on H's current account: $3000.
- Credit interest on capital: +$2000.
- Credit share of profit: +$60000.
- Debit drawings (unknown amount) and 5% interest on drawings (requires drawings amount to compute). Not enough information.
Final answer: Not enough information.
Topic: Preparation of financial statements
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