intermediate accounting 1

the ratio 3:2:1 respectively. A summary of the statement of financial position of the partnership as at September 30, 2020 is as follows: VOLTA, ASHANTI \& EASTERN Statement of Financial Position of the Partnership as at 30,2020 Due to a disagreement between Volta \& Ashanti, the partners decided to dissolve the partnership and the following decisions were taken in relation to the dissolution. i. The cash balance should be paid into the bank immediately ii. The trade receivables realized for GHC 25,200 whiles trade payables were settled for GHC19,800, the difference was granted as cash discount. iii. Volta was to take over the motor vehicle at GHC7,600 and inventory was sold for GHC 24,400 iv. The plant and machinery was disposed of at GHC 40,000 and furniture was sold for GHC25,800 v. Ashanti's loan was to be transferred to his capital account vi. Partners' current account balances were to be transferred to their capital account. You are required to prepare: i. The realization account ii. The Bank Account iii. The partners' capital account to show the final settlement among partners