Applying the "Visual Transform" of an object allows you to keep the current position/rotation/scale of the object and clear the accumulated Physics. Or if your simulating mesh interactions (e.g., Cloth) use "Object :: Apply :: Visual Geometry to Mesh".
Apply "Visual Transform"
Since the cannonball movement should realistic, i would choose the rigid body way:
How to do it:
create the objects (ship + cannonball) -> i assume you already have that
animate ship + cannonball location in the same way (location)
add rigid body active for cannonball, check animated checkbox
for the "shoot" sequence you need 3 keyframes ...
I had a different approach; I set up all the rigid body settings for the object while keeping it at the world origin, after setting it all up I changed its location and it was working (falling down vertically) smoothly. (I kept the object collision shape to convex hull and collision margin to 0, for the active body).
I noticed that setting up the rigid body ...
You can put all objects you want to emit in one collection. In the Render settings of the Particle System you can choose Collection which will use all the objects in this collection.
By default, it's picking single objects to be emitted as particle. But you can check Whole Collection which means, each emitted particle will then consist off all objects in ...