0.9 Ruwi Autos LLC is running a partnership business last 20 years. ASR good reputation in sultanate of Oman. ASR dealing auto parts, mobile oil and auto repair and maintenance. Last few years overall economic growth and oil prices continue decreasing and due to that reason firm continue running losses. A long discussion the partners decided to dissolve the firm. The partners are Abdullah, iqbal, Samar, and Rahil sharing profit and losses in the ratio of 6:5:4:3. The closing balances of assets, fiabilities and capitals as on 31" December,2019 was given below. Name of Accounts Cash at Bank Accounts Receivable Inventop Furniture Plant and Machinery Building Workshop Equipment Land Unpaid expenses OMR Name of Accounts 248,630 Notes Payable 884,873 Sundry Creditors 470,635 Abdullah Capital 1,327,523 Iqbal Capital 2,387,776 Samar Capital 1,609,020 Rahil Capital 1,323,252 Profit & Loss A/C 5,040,000 General Reserve A/C 640,395 OMR 405,216 230,738 3,546,900 1,518,300 2,419,200 3,150,000 425,880 955,080 They decided to dissolve the firms. The following term amounts were realized: Plant and Machinery and furniture are realized 15% less of total cost, Accounts Receivable realized OMR750,000, Inventory were sold OMR405,000, Sundry Creditors paid at 5% discounts, Land to be appreciated by 15% Rahil are agreeing to take Building and Workshop equipment OMR. 1,700,000 and OMR 1,250,000, respectively Note payable are paid 85% of total value of bill and Unpaid expenses were paid full amount You are required a. To pass necessary Journal entries (2 Marks) b. To prepare Realization Account, Bank Accounts and Partner's Capital Account