=+

(b) Prepare a statement showing the periodical distributions of cash, together with your computations of amounts distributed to partners.

14. tJames, John and Williams are equal partners and dissolved partnership on 30th June, 1962, on which date their position is disclosed by the following:

Balance Sheet

£

5,000 1,000 Creditors Loan Account—James Capital Accounts:

James 4,000 John 3,000 7,000

£13,000 Plant Stock Debtors Cash at Bank Capital Account:

Williams

£

3,000 5,000 4,000 100 900

£13,000