(a)[8]
Construct the realisation account.
(b)[2]
State two ways in which a realisation account differs from a revaluation account.
(c)[8]
Prepare a statement that shows the final amount payable to or receivable from each partner.
(d)[2]
Calculate the goodwill created when Z Limited acquires the partnership business.
(e)[5]
Advise the directors on whether they should accept the sole trader’s request. Justify your answer by showing the relevant calculations.