(a)[5]
Prepare the partnership realisation account.
(b)[5]
Prepare the partners’ capital accounts on dissolution of the partnership.
(c)[5]
Prepare the bank account on dissolution of the partnership.
Accounting 9706 · AS & A Level · The accounting system
The accounting system — practice question
Roberto and Sangeeta have been partners for many years, sharing profits and losses in the ratio $3:2$. They chose to dissolve the partnership on 31 August 2020. Their condensed statement of financial position at that date is shown below.