Question 4 Teoh, Meng and Chen are partners sharing profits and losses equally. The business performs has the following Statement of Financial Position as at 31 December 2021. Non-current assets Cost Accumulated depreciation (RM) Net book (RM) value (RM) Furniture and fittings 203,000 (35,000) 168,000 Motor vehicles 238,000 (79,450) 158,550 Office equipment 73,500 (31,500) 42,000 514,500 (145,950) 368,550 Current assets Cash and bank 127,050 Debtors 168,000 Other receivables 134,400 429,450 Current liabilities Accrued expenses 25,900 Creditors 121,100 (147,000) Working capital 282,450 Net assets 651,000 Financed by: Capital -Teoh 210,000 : -Meng -Chen 178,500 262,500 651,000 Total capital Teoh retired at 31 December 2021. The followings were the additional information: Furniture and fittings RM189,000 Motor vehicle RM168,000 Office equipment RM53,550 Goodwill was determined at RM84,000.