appropriation account

Additional inio mation, As of lanuary, 2021 the Assets were to be revalued due to the change in profit shai rotios thus affecring the following - Building = N 175,000; Motor Vehicle = N30,000; Inventory(Stock) =N20,000; and Maci inery = N10,000. You required to Prepare Nevaluation Accounting as well as New Balance Sheet. 3. (A) Outline the Determinants of Goodwill in Business. 3(B)(i) Explain the two Types of Goodwill you know, (ii) Whiat is the situation for adjustment of Godwill in Partnership Business? 4. Kebel, Buky and Akim are in Partnership. The Partnership agreement provides the following: (i) Buky and Akisn shall receive salary of N 2000 and N4000 respectively; (ii) interest allowable at 5% on fixed capital contribution; (iii) interest on Drawings at 6% per annum; (ii) interest allowable at 5% an Current Account balances at at the beginning of the year; (v) fhe balance of 203 amounted N13,460. (vi). The I Jllowins particulars are given: Capital Account 1" January 203 Kebel - H12000; Buky N10000 \& Akin - N8000, Current Account 1A January 203 (credits) Kebel N2000; Buky - 1000 \& Akim - Na00; Drawings: 31" March 203 Kebel-Nno0, Buky - N800 \& Akim - N800; 30th June 203 Kebel - N800, Buky - N600 and Akiri - N1000; 30th Sepcember 20X3 Kebel-NSn0, Buky -N800, and Akim - N400, 1" December 203 Kebel - N80U, Buky - N600 and Akim N200. Required: Prepars the appropriation account and the partner's Current account in columnar form for the year ended 314 December, 20X3 5. Ahmed, Bola and Chukwu are sharing profits/losses in the ratio 2:2:1, decided to rlissolve the partnership :in 31/12/2015 with the Statement of financial position (or Balance Sheet) shown below