Martin Moodley and Leigh Lawrence are in partnership business, sharing profits and losses in the ratio $3$:$2.$ Their statement of financial position at $30$ June $2022$ was as follows:

MARTIN MOODLEY AND LEIGH LAWRENCE

STATEMENT OF FINANCIAL POSITION as at $30$ June $2022$

ASSETS

Non$-$current assets $129000$

Land and buildings at carrying amount $90000$

Equipment at carrying amount $24000$

Motor vehicles at carrying amount $15000$

Current assets $225000$

Inventory $120000$

Accounts receivable $60000$

Cash at bank $45000$

$354000$

EQUITY AND LIABILITIES

Equity

Capital accounts $285000$

Martin Moodley $177000$

Leigh Lawrence $108000$

Current Liabilities

Accounts payable $69000$

$354000$

On $01$ July $2022,$ Ruby is admitted to the partnership on the following conditions:

$1.$ Ruby is to pay N$$90000$ for a quarter share of the business which Moodley and Lawrence give up equally.

$2.$ Land and buildings are valued at N$$120000.$

$3.$ Equipment is valued at N$$33000.$

$4.$ The cashflow from accounts receivable is expected to be N$$57000.$

$5.$ Inventory has a net realisable value of N$$111000.$

YOU ARE REQUIRED TO:

$1.$ Calculate the new profit$-$sharing ratio after the admission of Ruby.

$2.$ Calculate the amount of goodwill recognised when the new partner was admitted.

$3.$ Prepare the journal entries to record the admission of Ruby into the partnership.

$4.$ Prepare the statement of financial position for Moodley, Lawrence and Ruby as at $01$ July $2022.$