Bedin, Ceyla and Deris have been in a partnership for a number of years, sharing profits in the ratio of 5:3:2, respectively. The statement of financial position of the business as at 31 December 2013 is as follows:

Statement of Financial Position

As at 31 December 2013

RM	RM
ASSETS
Non-Current Assets
Premises	80,000
Equipment	50,000
Vehicles	30,000	160,000
Current Assets
Inventories	40,000
Debtors	50,000
Bank	112,000	202,000
TOTAL ASSETS	362,000
LIABILITIES & OWNERS EQUITY
Non-Current Liabilities
Loan from Bedin	8,000
Loan from Finance Company	20,000	28,000
Current Liabilities
Creditors	42,000
Bank Overdraft	32,000	74,000
Owners Equity
Capital Accounts
Bedin	160,000
Ceyla	60,000
Deris	20,000	240,000
Current Accounts
Bedin	10,000
Ceyla	4,000
Deris	6,000	20,000
TOTAL LIABILITIES & OWNERS EQUITY	362,000

On 1 January 2014, the partnership was dissolved due to a disagreement between the partners. Upon dissolution, the following transactions took place:

1. Premises were sold for RM115,000. The proceeds were then used to settle the bank overdraft. Equipment was realised at a loss of RM10,000.

2. Bedin agreed to take over the vehicles at 20% below book value. The loan from Bedin to the partnership was used as part of the settlement for the vehicles and the balance was paid by cheque.

3. Deris took over the inventories at a discount of 10%.

4. All debtors paid their debts in full except for an amount of RM1,500 which was unrecoverable and was therefore written off as bad debt.

5. The amounts owing to the creditors were paid in full at a discount of RM2,000.

6. Dissolution expenses amounting to RM1,500 were fully paid.

7. All payments and receipts were made through the bank account.

8. Deris had a debit balance in his capital account but only managed to pay RM4,400 to the partnership business. The deficiency is to be borne between Bedin and Ceyla based on the Garner vs. Murray rule.

REQUIRED:

(a) Prepare the realisation account to close the books of the partnership.

(b) Prepare the bank account to close the books of the partnership.

(c) Prepare the partners’ capital account to close the books of the partnership.