wi Three Partners sharing profit/loss in the ratio of 221 had to end their partnership due...
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wi Three Partners sharing profit/loss in the ratio of 221 had to end their partnership due to going concern As of January, 2019 their last Statement of Financial Position extract were as follow: Capital Fixed assets (N) Building 2. Payables 35,000 30,000 Motor 20,000 Current Assets Inventories 9,000 Receivables Banks 94,000 33,000 20,000 17,000 10,000 14,000 94,000 Additional information Three different realization were made on different dates concerning the selling of the assets. I Realisation: on line 1 some assets were sold for cash at 21,000 and out of this amount payables were seitled and the cost os dissolution was 300. 2 realization: on September 2019, the assets were sold for 30,000, Required prepare the piecemeal distribution statement and how much wi Three Partners sharing profit/loss in the ratio of 221 had to end their partnership due to going concern As of January, 2019 their last Statement of Financial Position extract were as follow: Capital Fixed assets (N) Building 2. Payables 35,000 30,000 Motor 20,000 Current Assets Inventories 9,000 Receivables Banks 94,000 33,000 20,000 17,000 10,000 14,000 94,000 Additional information Three different realization were made on different dates concerning the selling of the assets. I Realisation: on line 1 some assets were sold for cash at 21,000 and out of this amount payables were seitled and the cost os dissolution was 300. 2 realization: on September 2019, the assets were sold for 30,000, Required prepare the piecemeal distribution statement and how much
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Related Book For
Introduction To Financial Accounting
ISBN: 9781526803009
9th Edition
Authors: Anne Marie Ward, Andrew Thomas
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