1.A is joining B and C partenership partenership, and the three have agreed to value as 3 year purchase of the super profit. The net profit average of B and C partnership is $20000.The average value of the partner services $10000 and the average interest on capital is $5000. Calculate the good will

2 X and Y are in a partnership sharing profit and loss in the ratio of 2:1 respectively. Their financial statement are as follows

as at 31st December 2018

Non current Asset

Land and building $40000

Furniture and fixtures $30000

Motor vehicle $ 250000

=$950000

Current assets

Account receivable $15000

Inventory $20000

Cash $10000

Current liabilities

Account payable $25000

working Capital $20000

Net assets $11500

On the same day 31 December 2018 Z wasadmitted in the partnership and agreed on the following revaluations

3 advantages of control accounts

4 states errors affecting he trial balance

5 What capital expenditure

6 What is revenues expenditure

7 Errors of commission

8 characteristics of capital expenditure

9 characteristics of revenue revenue expenditure

10 difference between capital receipts and capital expenditure