Qn.2 Ash and Mesh are in partnership sharing profits and losses in the ratio 3:2 respectively, after allowing for partners salaries. Interest is not allowed on partners' drawings. On 1st April, Rasta was admitted as a third partner under the following terms: i. ii. Rasta to contribute cash of GHC700,000 and also to bring his personal motor vehicle valued at GHC300,000 as his capital. Rasta to pay in addition GHC200,000 for his share of business goodwill; this sum is to remain in the business. Adjustment for goodwill should be made through the capital accounts. There will be no separate account for goodwill. Profits and losses are to be shared as: Ash 40%, Mesh 40% and Rasta 20%. iii. The capital account balances of Ash and Mesh are given as GHC3,000,000 and GHC2,000,000 respectively. Required: Use Total Goodwill Approach and prepare the Partners' Capital Account to reflect the share of the premium paid by Rasta