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How the distribution should be made

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Question: Read, White and Blue are in partnership. The following is their Balance sheet as at 31st December, 1961, on which date they dissolve partnership. They share profits in the ratio 5:3:2.

427_Balance sheet.png

It was agreed to repay the amounts due to the partners as and when the assets were realised, viz:

313_Feb.png

Prepare a statement showing how the distribution should be made and write up the Cash Account and Partners; Capital accoimts.

Reference no: EM131536678

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