Given information for questions 1-2: Mava and Sizwe, are in a partnership, trading as MavaS. The partnership share profits or losses of the partnership in the ratio of 3:2 respectively. Recently they signed a contract with a chain store to supply packed baked products and urgently needed an additional partner to join the partnership. Bam offered to join the partnership. On 31 December 2020, the following list of balances were extracted from the books of MavaS: Capital: Mave.. Capital: Sizwe Current account Mava (Cr) Current account Sizwe (Dr) Revaluation surplus........... Vehicle at carrying amount.... Equipment at carrying amount..... Furniture and fittings at carrying amount.... Trade payables control.... inventory........ Trade receivables control Bank (Overdraft). Allowance for credit losses.... R 181 050 123 000 18 750 24 300 37 500 90 000 14 250 210 000 32 800 25 950 9 750 13 162 788 Additional information: 1. It was agreed that Bam will acquire a third share in the profits/losses of the new partnership. Mava and Sizwe will relinquish a third share to Bam according to their existing profit-sharing ratio. On 1 January 2020, Bam will contribute a vehicle with a value of R150 000 as well as cash to the amount of R112 500 for his third share in the net assets of the new partnership. 2. In preparation of the change in the ownership structure of MavaS the partners decided to record the following valuations: Vehicles Equipment Furniture and fittings Inventory A. R 92 700 B. R 92 287 C. R 92 100 3. The allowance for credit losses must be adjusted to 5% of the trade debtors. D. R 90 000 E. R 98 250 R67 500 4. Creditors offered a 8% discount for payments made on or before 31 January 2020. MavaS will settle 80% on 30 January 2020. QUESTION 55 Question 55 R6 000 Which one of the following alternatives represents the balance in the valuation account in the general ledger of Mavas on 31 December 2020? (All amounts should be rounded up to the nearest Rand) Select one: R333 150 Select one: R23 250 A. R 61 200 B. R 36 840 C. R 40 800 D. R 36 000 E. R 36 915 Assume that the correct valuation suprplus amount is R102 000. Which one of the following alternatives represents the balance transferred to the capital account of Sizwe as a result of the revaluation of the partnerships assets and liabilities on 31 December 2020? (All amounts should be rounded up the est Rand).