GIVEN INFORMATION FOR QUESTIONS 8-9 Erian and Adams were In partnership trading as BA Supplers and they provide car wash services to clents. Profits and losses were shared In the ratio 2:3. In April 2019, they deecided to lquidate the partnership by means of a simultaneous liquidation on 1 April 2019. The partners further agreed that deficts, any, should be apportioned using the capltal ratio. EXTRACT FROM THE STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2019: R Furniture and fittings GoodwlL 350 000 80 000 Bank 300 000 72 000 Inventory. Trade and other recevables 92 000 Capital aocount Brlan. Capital account: Adams Current account: Brian (Cr) Current account: Adams (Cr) Revaluation surplus Loan from Caplc Bank Trade and other payables. 55 000 140 000 38 000 47 000 110 000 285 000 219 000 On 1 April 2019 the assets were llquldated, and llablities settled as follows Funiture and fittings were sold Tor R85 000 and Inventory sold for R65 000 cash The debtors accounts were settied and a settlement discount of R2 000 was granted. The loan from Caple bank was settled In full The creditors were pald R208 000 In full settlement of their accounts Liquidation expenses amounting to R43 000 were pald in full 1. 2. 3. 4. 5. QUESTION 8 Which one of the following altematives represents the balance on the bank account before any settlement to partners? 1. R4 000 2. R188 000 3 R145 000 R300 000 4. 26 FAC1601/101/3/2019 ASSIGNMENT01 SECOND SEMESTER (continued) QUESTION 9 Which one of the following altematives represents the correct settlement amount on the capital account of Brian after the liquidation distribution? 1. R4 000 2 R17 400 3. R21 400 R69 400 4. ei ei m