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Emojong, Barmoi and Kimani have been partners sharing profits and losses in the ratios 2:2:1. Accounts have been prepared on an annual basis to 31...

      

Emojong, Barmoi and Kimani have been partners sharing profits and losses in the ratios 2:2:1. Accounts have been prepared on an annual basis to 31 December of each year Emojong the only active partner, died on 31 May 2002 and the remaining partners decided to cease business from that date. The assets are to be realized, outstanding debts paid and the remainder to be shared by the partners (including the executors of Emojong’s estate) in an equitable manner, distributions of cash being made as soon as possible.
A balance sheet prepared as at 31 May 2002 revealed the following position
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Answers


Wilfred
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Wilfykil answered the question on February 11, 2019 at 05:23


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