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Will, West and Thomas were in partnership sharing profits and losses in the ratio 3:2:1. On 30 June 2021 they decided to dissolve the partnership.
Will, West and Thomas were in partnership sharing profits and losses in the ratio 3:2:1. On 30 June 2021 they decided to dissolve the partnership. After realising all the assets, the balance sheet appeared as follows: Thomas is not able to pay the amount of the balance due to the partnership by him. Required: Prepare the capital accounts of all the partners after the entries are completed to close the books. [6 marks] (Total 20 marks)
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