Question 37 Which one of the following alternatives represents the correct capital amount for Ramphele in the statement of changes in equity of Kgabo Fresh Produce for the year ended 29 February 2020? Select one:

a. R 125 000

b. R 187 500

c. R 187 700

d. R 144 000

e. R 75 900

Kgabo Fresh Produce is an entity that operates a farm in Bela-Bela. The following information is taken from the accounting records of the entity, a partnership with Seseni, Ramphele and Mboweni as partners in the business, at 29 February 2020 the financial year end of the partnership. KGABO FRESH PRODUCE EXTRACT OF BALANCES AS AT 29 FEBRUARY 2020 R Capital: Seseni........... 75 900 Capital: Ramphele 187 700 Capital: Mboweni.......... 111 000 Current account Seseni (Cr)..... 19 300 Current account Ramphele (Dr). 16 000 Current account Mbowenl (Dr). 15 400 Drawings: Seseni......... 46 800 Drawings: Ramphele 51 300 Land and buildings at cost 500 000 Equipment at cost........... 250 700 Accumulated depreciation: Equipment... 25 000 Mortgage loan .......... 76 000 Loan from Ramphele 31 300 Loan from Mboweni......... 28 500 Bank overdraft. 36 300 Trade payables control....... Trade receivables control Profit for the year Additional information Abstract from terms of the partnership agreement: 1. The partners share profits equally 1. Each partner is entitled to a monthly salary of R13 100. 1. Interest of 6% per annum is charged on the partners' capital accounts. 1. Interest on current accounts of 5% per annum is charged on the opening balances of the partners current accounts. 1. As a well-known wagyu beef expert in the country, Mboweni is entitled to an annual bonus equal to 18% of her annual salary. ********* 46 900 48 800 535 400 Year-end adjustments: 1. Due to the draught and penalties incurred on defective produce, the farm experienced working capital challenges and only managed to pay 40% of the partner's annual salaries. 1. On 31 October 2019, Seseni made an additional capital contribution to the partnership comprising of an old tractor valued at R33 000 and cash amount of R17 000. This transaction is yet to be recorded by the accountant