Question: BAC 1634 Financial Accounting and Reporting 1 Tutorial 12 - Partnership Accounts Question 1 Avon and Brown have been in partnership for many years sharing

BAC 1634 Financial Accounting and Reporting 1 Tutorial 12 - Partnership

BAC 1634 Financial Accounting and Reporting 1 Tutorial 12 - Partnership Accounts

Question 1

Avon and Brown have been in partnership for many years sharing profits and losses in the ratio 3:2 respectively. The following was their balance sheet as at 31 December 20x3.

Goodwill Plant and machinery Inventories Receivables Bank dee payables Capital: Avon Brown RM 1,960 2.130 90 4.130 {930; M 2.000 1.800 3.200 7.000 4.000 3.000 7.000

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