QUESTION 1 (47 MARKS) Arya, Sansa and Catelyn are partners trading as the entity Thrones Traders. Arya, Sansa an Catelyn share profits and losses in the ratio 1:2:3 according to their partnership agreement On 31 October 2020, the partners decided that they wanted to retire and indicated their desire to dissolve the partnership. They presented you with the following trial balance just before the dissolution took place: Credit R 120 000 80 000 200 000 THRONES TRADERS Trial balance as at 31 October 2020 Debit R Capital: Arya Capital: Sansa Capital: Catelyn Current account: Arya 160 000 Current account: Sansa Current account: Catelyn Land & buildings 200 000 Equipment at carrying amount 76 000 Vehicles at carrying amount 100 000 Goodwill 24 000 Inventories 24 000 Trade and other receivables 50 000 Cash and cash equivalents 34 000 Trade and other payables 668 000 60 000 120 000 88 000 668 000 Additional information 1 The assets of the partnership were realised as follows: R Land and buildings 300 000 Equipment 30 000 Vehicles 110 000 Inventories 30 000 Receivables 44 000 2 With the payment of the payables a discount of R2 000 was received. This discount was not provided at the date of purchase of the merchandise 3. Dissolution fees amounted to R4 200, 4 The partnership agreement stipulated that in the event of a shortfall on a partner's capital 1 The assets of the partnership were realised as follows: R Land and buildings 300 000 Equipment 30 000 Vehicles 110 000 Inventories 30 000 Receivables 44 000 2 With the payment of the payables a discount of R2 000 was received. This discount was not provided at the date of purchase of the merchandise. 3 Dissolution fees amounted to R4 200. 4 The partnership agreement stipulated that in the event of a shortfall on a partner's capital account, the amount shall be paid into the partnership's bank account. 5 The balances on the partners' capital accounts will be settled by EFT by the partnership on the conclusion of the dissolution. REQUIRED: Prepare the following T-accounts in the ledger of Thrones Traders to give effect to the dissolution of the partnership as described above: Realisation account: (20) Capital accounts (separate accounts) (27) Note: Thrones Traders is NOT registered for VAT purposes. Round off any calculations to the nearest Rand