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Given the following information for questions 1 6 : Mgungundlovu Plumbers, specialising in plumbing services and material supplies within the uMgungundlovu District Municipality, is a

Given the following information for questions 16:
Mgungundlovu Plumbers, specialising in plumbing services and material supplies within the uMgungundlovu District Municipality, is a partnership originally established between Mkhuzeni and Akezwa. The partners have been sharing profits and losses on an equal basis. On July 30,2023, the following data was extracted from the partnerships financial records:
EXTRACT of given information for Mgungundlovu Plumbers
R
Capital - Mkhuzeni 149,000
Current account - Mkhuzeni (Dr)57,400
Capital - Akezwa 122,500
Current account - Akezwa (Cr)21,000
Additional information
The partners needed special skills and experience with the latest leak detection technology and went out to seek a suitable partner to join the business. After a long search and interactions with various individuals, they resolved to welcome a new partner, Kahle, into the business commencing September 1,2023.
To acquire a 20% interest in the net assets of Mgungundlovu Plumbers, Kahle is set to contribute:
i. Leak detection equipment worth R 19500
ii. Nissan NP200 Bakkie valued at R 55500
iii. Bespoke Analysis Software worth R 18000
iv. Cash R 25300
Before Kahle's admission, the existing partners consented to cede a combined 20% of their entitlement to the partnership's profits or losses to Kahle, allocated in a 3:1 ratio between them.
A comprehensive revaluation of all other assets was conducted before Kahle joined the partnership and after the revaluation, a profit of R62300 was accurately calculated.
Which one of the following alternatives represents the new profit-sharing ratio after the admission of Kahle into the new partnership?
a.
2 : 1 : 2
b.
3 : 2 : 1
c.
2 : 2 : 1
d.
2 : 3 : 1
Question 10
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Which one of the following alternatives represents the correct balance in the capital account of Mkhuzeni after the valuation of assets and prior to the admission of Kahle?
a.
R 153,900
b.
R 122,750
c.
R 174,650
d.
R 91,600
e.
R 237,550
Question 11
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Which one of the following alternatives represents the correct balance in the capital account of Akezwa after the valuation of assets and prior to the admission of Kahle?
a.
R 122,750
b.
R 132,650
c.
R 143,500
d.
R 174,650
e.
R 205,800
Question 12
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Which one of the following alternatives represents the correct total contribution from Kahle to join the partnership?
a.
R 100,300
b.
R 93,000
c.
R 113,800
d.
R 118,300
e.
R 118,000
Question 13
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Assume the correct total contribution by Kahle is R110000. Which one of the following alternatives represents the correct amount of goodwill in the accounting records of Mgungundlovu Plumbers after the admission of Kahle?
a.
R 142,600
b.
R 252,600
c.
R 252,000
d.
R 69,800
e.
R 134,300
Question 14
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Assume the correct goodwill amount is R124300. Which one of the following alternatives represents the correct amount of total equity in the accounting records of Mgungundlovu Plumbers after the admission of Kahle?
a.
R530,000
b.
R558,300
c.
R540,000
d.
R415,700
e.
R531,700

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