please do it in detail

Part B GF Partnership provides property investment consultancy services since 2010. The Covid 19 pandemic in 2020 badly affected the GF Partnership business. The partners, Garfield and Flinstone, decided to liquidate the business and the partnership ledger are shown below: Continued... NIFAH MAM BI614 FINANCIAL ACCORINTING & RERINGE 3 MARCH Cash RM 120.000 Noncash Assets 180.000 Liabilities 88.000 Garfield, Capital 200,000 Flinstone, Capital 12.000 Garfield and Flinstone's income ratios are 3:2, respectively. Required: Prepare a schedule of cash payments, assuming that the soncash acts were sold for RM120,000. Assume that any partner's capital deficiencies cannot be paid to the partnership Part Vinca Bhd operates a transporting cargo from Malaysia to various destinations overseas. Its financial year ends on 31 December and its annual reports are usually approved for publication three (3 months) after the financial year end On 30 December 2020, one of Vinca Bhd's ships suffered an oil leak 12 kilometres off the shore of one of the Asean's countries. Due to strong currents, the oil was washed ashore and contaminated 4 kilometres of the beach. This Ascan country has no environmental regulation on contamination of its shores. However, Vinca Bhd is very well known as an advocate of environmental preservation and has an excellent track record of cleaning up all contamination that it causes. As at 31 December 2020, it is estimated that the clean-up of the contaminated beach would costs the company RM1,000,000 Required: Explain whether Vinca Bhd should treat the cost for cleaning the oil spill contamination as a provision or a contingent liability in order to comply with the requirements of MFRS 137 Provisions, Contingent Liabilities and Contingelsets