QUESTION 2 (21 Marks) Sheldon and Leonard are partners in a solar-power business named Big Bang Solar (BBS"). They specialise in the installation and planning of solar systems for houses, office buildings and farms. Sheldon and Leonard share profits and losses in the ratio 3:2 according to their partnership agreement. The following trial balance was extracted from the financial records of the partnership on 31 December 2017: Dr Cr N$ N$ Capital - Sheldon 381 000 Capital - Leonard 234 000 Current account Sheldon 90 000 Current account - Leonard 60 000 Bank 90 000 Penny is a specialist in the solar industry. Due to the prospects of business growth Sheldon and Leonard decided to admit Penny as from 01 January 2018 as a partner under the following terms and conditions: Penny is a specialist in the solar industry. Due to the prospects of business growth Sheldon and Leonard decided to admit Penny as from 01 January 2018 as a partner under the following terms and conditions: Penny will receive 1/5 of the profits and losses. Sheldon and Leonard will contribute in the ratio 2:1 towards Penny's 1/5 profit share. Penny must pay N$180 000 for her 1/5 share in the partnership's assets. The assets of the partnership were revalued on 1 January 2018 and the revaluation account revealed a surplus of N$60 000. The new partnership agreement states, inter alia: o The partners will not make use of current accounts anymore; therefore all current accounts must be closed off to their capital accounts. o The accounting records will not show any goodwill. REQUIRED: 1.1 Calculate the new profit sharing ratio after the admission of Penny. (2.5 marks) 1.2 Calculate the amount of goodwill with the admission of Penny. (5.5 marks) 1.3 Prepare the general ledger capital accounts for all the partners immediately after the admission of Penny. (13 marks)