Financial Accounting

Partnership Question No. 06 ossoluton Colors partnership, owned by three partners Rose, Pink and White reported the following post-closing trial balance. Colors' Partnership Post-Closing trail Balance as at 31.03.2019 Account Title Building Ace. Depreciation - Building Furniture and Fittings Acc. Depreciation - Furniture and Fittings Inventory Debtors Cash at Bank Capital - Rose Capital - Pink Capital - White Creditors (Rs.) (Rs.) Debit Credit 500,000 60.000 275,000 55.000 350,000 200.000 150,000 300,000 280,000 420,000 360,000 1,475,000 1,475,000 Additional information Rose. Pink and White have been sharing profits and losses in the ratio of 5: 3:2 respectively, The above trial balance has been prepared after closing off the year -- end balances in the profit and loss account and the partners' current and drawings accounts to the partners capital accounts in anticipated of the dissolution. The partners of Colors Partnership sold all the non--current assets of the firm on 01.04.2019 for Rs. 1,000,000 by. spending Rs. 3,750 as selling expenses. 12 Required: Prepare the realization account (Liabilities will be settled by their individual accounts) b. Partners Capital Accounts c. Cash Book (15 Marks) ertne