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Can I plz get help with the asap? Alpha Romeo furniture Alpha and Romeo are partners in the partnership Alpha Romeo furniture. The business manufactures
Can I plz get help with the asap?
Alpha Romeo furniture Alpha and Romeo are partners in the partnership Alpha Romeo furniture. The business manufactures and sells furniture. Alpha and Romeo share profit and losses equally. They decided to admit Juliet to the partnership. Statement of financial position of Alpha Romeo furniture before the admission of Juliet. Additional information: - Juliet will contribute R250,000 cash to the partnership. - Alpha and Romeo will each contribute 1/3 of their profit share to Juliet. - Office equipment must be revalued to R240,000 for the purposes of Juliet's admission to the partnership. - Office equipment must be shown at R120,000 in the new partnership. Source: Muzenda. 1. 2022. Required: 1.1 Calculate the new profit-sharing ratio of Alpha, Romeo and Juliet. (4 Marks) 1.2 Prepare the capital accounts of the partners. (16 Marks) COAGB1 Choose an item. 2022 | V1.0 Page 2 of 4Step by Step Solution
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