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please help fast Zoe. Zara arnd Zola are independert webste developers who had been tradir: opposition to one another for some years. They decide to
please help fast Zoe. Zara arnd Zola are independert webste developers who had been tradir: opposition to one another for some years. They decide to form a partriership, Triple C. Webbers", as from 1 july 2021 . The agreement set out the following basie arrargernents. 1. Zoe to contribute $15000 in cash, computers valued at $20000, and clebtors of $24 2. Zara to contribute a lease of premises used by him, such a leaseto be regarded as having a capital value of $25000, computers of $10000 and $12000 in cash. 3. Zola to contribute computers valued at $27500 and to act as managing partner at a salary of $40 000 per year. 4. Interest for the period is to be allowed partners at the rate of 8% p.a. on beginning capital but is not charged on drawings. 5. Profits or losses to be shared in the same proportions as capital contributed. Required (a) Prepare the journal entries necessary to open the records of the partnership. b) Assuming at the end of the first year ( 30 June, 2022) the partnership makes a profit of 120000 , prepare a schedule to show how this profit would be allocated to partners
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