Question 2 The partnership's statement of financial position of Johan and Nik at 30 April 2021 was as follows: RM RM Non-current assets Freehold premises 120,000 Fixtures and fittings 24,000 Motor vehicles 18,000 162,000 Current assets Inventories Account receivables 12.300 8,700 21,000 183,000 Capital accounts Johan Nik 105,000 63.000 168,000 Current accounts Johan Nik 2,025 1,475 3,500 Current liabilities Account payables Bank overdraft 6,200 5,300 11,500 183,000 The partnership has operated for many years and profits and losses have been shared between Johan and Nik in the proportion of 3:1 On 1 May 2021 the partners decided to revalue some of the partnership assets as follows: (1) Freehold premises RM130,000 (2) Fixtures and fittings RM 28.000 The value of the partnership goodwill on 1 May 2021 was 15.000 and is not to be brought into the books. On 2 May 2021, the partners agreed to admit Mariah to the partnership. The new partnership agreement stated that any profits and losses would be shared between Johan. Nik and Mariah in the ratio 2.2:1 respectively. Mariah introduced the following assets to the partnership: RM Fixtures and fittings 11,500 Motor vehicles 12,000 Inventories 2.300 Cash at bank 4,100 Required: (a) Prepare the revaluation account for the partnership of Johan and Nik. (2 marks) (b) Prepare the capital accounts for Johan, Nik and Mariah (8 marks) (c) Prepare the statement of financial position of Johan, Nik and Mariah as at 2 May 2021. (15 marks) [Total: 25 Marks]