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The questions are based on the scenario above

The information below relates to questions 1 - 7. Thatha, Kwakho and Uhambe were in a partnership which traded as Mnambithi Cars and they shared in the profits and losses of the partnership in the ratio of 1:2:1 respectively. They decided to liquidate the partnership piecemeal as from 30 June 2021. The following information pertains to the partnership: MNAMBITHI CARS BALANCES AS AT 30 June 2021 R Capital: Thatha 15 000 Capital: Kwakho 25 000 Capital: Uhambe 15 000 Revaluation surplus 25 000 Drawings: Thatha 6 000 Drawings: Kwakho 3 500 Drawings: Uhambe 5 500 Trade payables control 18 000 Equipment at cost 20 000 Accumulated depreciation: Equipment 12 000 Goodwill 30 000 Trade receivables control 26 000 Inventory 24 000 Allowance for credit losses 5 000 The partners decided that Kwakho can take over the equipment on 2 July 2021 at its carrying amount. As soon as sufficient cash becomes available interim repayments must be made to the partners in such a manner that no partner will have to make any repayments thereof to the partnership The inventory and trade debtors were realised as follows: Date Carrying amount Item Cash proceeds 30-Jun-21 R24 000 Inventory R22 000 15-Jul-21 R26000 Trade receivables control R23 000 QUESTION 1 Which one of the following alternatives represents the correct balance in the capital account of Thatha at the start of the liquidation process on 30 June 2021? Capital: Kwakho Capital: Uhambe Revaluation surplus Drawings: Thatha Drawings: Kwakho Drawings: Uhambe Trade payables control Equipment at cost Accumulated depreciation Equipment Goodwill Trade receivables control Inventory Allowance for credit losses 25000 15 000 25 000 6 000 3 500 5 500 18 000 20 000 12 000 30 000 26 000 24 000 5 000 The partners decided that Kwakho can take over the equipment on 2 July 2021 at its carrying amount. As soon as sufficient cash becomes available, interim repayments must be made to the partners in such a manner that no partner will have to make any repayments thereof to the partnership The inventory and trade debtors were realised as follows: Date Carrying amount Item Cash proceeds 30-Jun-21 R24 000 Inventory R22 000 15-Jul-21 R26000 Trade receivables control R23 000 QUESTION 1 Which one of the following alternatives represents the correct balance in the capital account of Thatha at the start of the liquidation process on 30 June 2021? A. (8250) B. (7 750) . . C. 7 750 D. 15 000 E. (15000) Reset Selection QUESTION 2 Which one of the following alternatives represents the correct balance in the capital account of Uhambe at the start of the liquidation process on 30 June 2021? . A. 8 250 B. (15000) C. (7 750) . D. 15 000 E. (8250) Reset Selection Question 3 of 7 30 Point QUESTION 3 Which one of the following alternatives represents the correct balance of total assets at the start of the liquidation process, before the sale of inventory on 30 June 2021? A. 70 000 B. 58 000 . C. 63 000 . D. 53 000 E. 46 000 Reset Selection QUESTION 4 Which one of the following alternatives represents the correct amount available for interim repayment to partners on 2 July 2021? A. 27 000 B. 12 000 C. 45 000 D. 4 000 E. 22 000 Reset Selection Question 5 of 7 3.0 Point: QUESTION 5 Which one of the following alternatives represents the correct amount that is due to Kwakho on 2 July 2021? A. 2 000 B. 1 750 . C. 500 D. 2 250 . E. Reset Selection Question 6 of 7 3.0 Point vo 4G IF 17:24 PM QUESTION 6 Which one of the following alternatives represents the correct amount that is due to Uhambe on 2 July 2021? A. 2 000 . B. 1750 . C. 500 . D.O E. 2 250 Reset Selection Question 7 of 7 1.0 Points QUESTION 7 Which one of the three partners has a capital account balance in the deficit on 2 July 2021? A. Thatha B. None of the above C. of the above D. Kwakho E. Uhambe Reset Selection