QUESTION ONE SISI and MIMI are in partnership sharing profits and losses aquilly. On 31 December 2006 they decided to admit LAR as a partner. Their trial balance as at this date was as follows DR 4000 CR GH 000 Capital Accounts: SISI MIMI Current Accounts SIST 900,000 900,000 495,000 MIMI 450,000 Creditors 895,000 Premises 781,000 Plant and machinery 600,000 Motor Vehicles 450,000 Fixture 215,000 Office Equipment 1,000 Stock 480,000 Debtors 685,000 Cash at Bank 120,000 Prepayments Accruals 80000 150,000 1790.000 1.200.000 The following additional information is available 4 LAR was to contribute a capital of GH400,000,000 for one-th share of profit b. Goodwill was to be brought into the books at GH120,000,000 Assets were revalued at Premises Plant and Machinery Motor Vehicles Office Equipment 1,200,000 540,000 400,000 92000 Debtors Stocks 645,000 440,000 The partners are to share profit in the ratio of 2:21 after the admission of LAR The partners consider the goodwill as non-purchased and as such should not be carried in the books of acco One of the most vehicles which was coendered umerviceable was transfered to MIMI valuation of GHe 15,000,000 Required: Revaluation account Partner's capital accounts Statement of Financial Position as at 31" December, 2006 after admitting LAR (15 marks)