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realisation account 5. Ahmed, Bola and Chukwu are sharing profits/losses in the ratio 22:1, decided to dissolve the partnership on 31/12/2015 with the Starement of
realisation account
5. Ahmed, Bola and Chukwu are sharing profits/losses in the ratio 22:1, decided to dissolve the partnership on 31/12/2015 with the Starement of financial position (or Balance Sheet) shown below: Ahmed, Bola \& Chulcwu The partners were unable to sell the business as a going concern. They therefore disposed the assets separately for the following amounts:- Equipment N775000; Motor Vehicle N120000; Inventories N72500. Trade receivable paid in full and Trade Payables gave discount totaling N2500, Dissolution cost totaled N20000. Required: Prepare the necessary ledger accounts to dose the books of the partnershipStep by Step Solution
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