Illustration 1 P. Q and R were partners sharing profits and losses in the ratio of 3: 2:1, no partnership salary or interest on capital being allowed. Their balance sheet on 30th June, 2012 is as follows 017 O Liabilities Assets Fixed Capital Fixed assets : P 20.000 Goodwill 40.000 20,000 Freehold Property 8.000 R 10.000 50,000 Plant and Equipment 12,800 Current Accounts : Motor Vehicle 700 P 500 Current Assets Q 9.000 9.500 Stock 3.900 Loan from P 8,000 Trade Debtors 2.000 Trade Creditors 12,400 Less: Provision (100) 1.900 Cash at Bank 200 Miscellaneous losses R's Current Account 400 Profit and Loss Account 12.000 79.900 79.900 On 1st July, 2012 the partnership was dissolved. Motor Vehicle was taken over by Q at a value of 7 500 but no cash passed specifically in respect of this transaction Sale of other assets realised the following amounts: 3 Goodwill nil Freehold Property 7.000 Plant and Equipment 5.000 Stock 3,000 Trade Debtors 1,600 Trade Creditors were paid 11,700 in full settlement of their debts. The costs of dissolution amounted to 1,500. The loan from P was repaid. P and were both fully solvent and able to bring in any cash required but R was forced into bankruptcy and was only able to bring 1/3 of the amount due. You are required to show. (a) Cash and Bank Account (b) Realisation Account, and (c) Partners Fixed Capital Accounts (after transferring Current Accounts balances)