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Question 5 [12] The following information relates to StarShine CC. The close corporation has three members and their contributions and interest are as follows: Brian
Question 5 [12] The following information relates to StarShine CC. The close corporation has three members and their contributions and interest are as follows: Brian Sharon Greg Members' interest percentage 20% 70% 10% Members' funds: R15 000 R55 000 R9 000 - Members' contribution Retained earnings R38 700 R185 000 R17 800 R53 700 R240 000 R26 800 Additional information: Kerryn joins the close corporation. Her contribution is in the form of a cash deposit of R80 000. She acquires a 20% interest in the CC. Required: Calculate the change in members' percentage interest and members' funds
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