Question One Ali and Birma were in partnership sharing profits and losses in proportion of and %. Thev dissolve the partnership on 31" December 2017. The Plant and Machinery realised N52,00 inventory and receivables realised N25,000 and N8,000 respectively. The dissolution expens 1/9 to N10,000 and payables were settled in full. The Statement of financial position immediately --- dissolution is given below Assets Plant and Machinery Inventory Receivables Cash 50,000 20,000 10,000 10,000 90,000 Equity and Liabilities Capital a/e: Ali Birma 15,000 8,000 23,000 Current a/c Ali Birma (5,000) 7,000 Loan from Ali Payables 2,000 20,000 45,000 90,000 Required: Prepare i. The Realisation account ii. Partners Capital account iii. The Cash account Question One Ali and Birma were in partnership sharing profits and losses in proportion of and %. Thev dissolve the partnership on 31" December 2017. The Plant and Machinery realised N52,00 inventory and receivables realised N25,000 and N8,000 respectively. The dissolution expens 1/9 to N10,000 and payables were settled in full. The Statement of financial position immediately --- dissolution is given below Assets Plant and Machinery Inventory Receivables Cash 50,000 20,000 10,000 10,000 90,000 Equity and Liabilities Capital a/e: Ali Birma 15,000 8,000 23,000 Current a/c Ali Birma (5,000) 7,000 Loan from Ali Payables 2,000 20,000 45,000 90,000 Required: Prepare i. The Realisation account ii. Partners Capital account iii. The Cash account