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Question 2 (4 marks) Tasneem and Shireen are partners in a firm. Their capital accounts showed the balance on Jan 1, 2021 as JD 100,000,

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Question 2 (4 marks) Tasneem and Shireen are partners in a firm. Their capital accounts showed the balance on Jan 1, 2021 as JD 100,000, JD 120,000 respectively. And share Profits & Losses 40%, 60% respectively, they have agreed to admit Nada as a new partner in the company. Nada will invest JD 130,000 cash for 20% of capital & profits after admission. Required: 1) Journalize the entry to record the admission of Nada by using Goodwill method. 2) Capital balance of the firm and share capital balances of all partners after admission by using Goodwill method. 3) Journalize the entry to record the admission of Nada by using bonus method. 4) Capital balance of the firm and share capital balances of all partners after admission by using bonus method. 5) Calculate the new profit-sharing ratio after the admission

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