QUESTION 1 (BLUE BOOK) 30 MARKSI 40 minutes R Eve. Keba and Ben are in a partnership and share profits or losses in the ratio 3:21. They decided to dissolve their partnership on 30 November 2015 On that date the following statement of financial position was prepared EXTRACT OF TRIAL BALANCE AS AT 30 NOVEMBER 2016 DEBIT CREDIT R Capita Eve 84000 Keba 55 000 Ben 33 000 Current accounts Eve 13 200 Keba 8400 12 300 Trade and other payables 15000 Land and buldings 90 000 Furniture 15 000 Vehicles 60 000 Goodwill 12 000 Inventories 8500 Trade and other receivables 6400 Cash and cash equivalents 13 200 205 100 205 100 Ben ADDITIONAL INFORMATION 1) The assets of the partnership were realised at the following amounts: Vehicles 55500 Land and buildings 103 400 Inventories 6 200 Trade receivables 8000 Furniture 17 200 2) The trade payables were paid R13 200 intuisettlement of their accounts. 3) Realisation costs amounted to R1 200. 4) The partnership agreement stipulates that in the event of a shortfall on a partner's capital account the shortfall amount be divided in profit sharing ratio between the other partners 5) The balances on the partners' capital accounts will be settled by EFT, REQUIRED Prepare the following accounts in the general ledger at the partnership a) Realisation account b) Partners capital accounts (in column form) (8) (10) c) Bank account (12)