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Can I please get help with this? Partnership Changes Activity Alexa and Bridget are partners in the partnership Red Red Roses. The business sells fresh
Can I please get help with this?
Partnership Changes Activity Alexa and Bridget are partners in the partnership Red Red Roses. The business sells fresh roses to the public. Alexa and Bridget share profit and losses in the ratio 2:1. They decided to admit Carly to the partnership. Statem Additilian minnminanna- - Carly will contribute R100,000 cash to the partnership. - Alexa and Bridget will each contribute 1/4 of their profit share to Carly. - Land and buildings must be revalued to R80,000 for the purposes of Carly's admission to the partnership. - Land and buildings must be shown at R65,000 in the new partnership. Required: 1.1 Calculate the new profit-sharing ratio of Alexa, Bridget and Carly. 1.2 Prepare the following general ledger accounts in the books of Red Red 1.2.1 Capital - Alexa 1.2.2 Capital - Bridget 1.2.3 Capital - CarlyStep by Step Solution
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