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EXTRACT OF GIVEN INFORMATION FOR MHLATHUZE WATER Current account - Mpiyakhe (Dr)..... Current account - Phumasilwe (Dr).... Capital - Mpiyakhe........... Capital Phumasilw.......... R 39
EXTRACT OF GIVEN INFORMATION FOR MHLATHUZE WATER Current account - Mpiyakhe (Dr)..... Current account - Phumasilwe (Dr).... Capital - Mpiyakhe........... Capital Phumasilw.......... R 39 700 24 800 108 900 96 500 Additional information .Mpiyakhe and Phumasilwe decided to admit Dlame from 1 August 2022. Dlame will contribute the following to acquire a fifth of the net asset share of the partnership: . Cash............... Purification equipment worth ..R18 300 ..........R.49 800 Mpiyakhe and Phumasilwe agreed to relinquish 20% of their share in profits or losses to Dlame in the ratio of 3:1 respectively. All other assets were revalued before admitting Dlame to the partnership. A valuation loss was correctly calculated at R37 700 Which one of the following alternatives represents the new profit-sharing ratio after the admission of Dlame into the new partnership? O a. 3:2:1 O b. 2:2:1 O c. 2:3:1 O d. 2: 1:2
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