R 124 500 110300 45400 28.400 Given the following information for questions 1 - 4: Mrebe and Johannes are in a partnership trading as KwaQongo Farmers. The partners are sharing profits and losses equally. On 30 July 20.1 the following information was extracted from the accounting records of the partnership EXTRACT OF GIVEN INFORMATION FOR KWAQONGO FARMERS Capital - Mrebe. Capital - Johannes. Current account - Mrebe (Cr)- Current account - Johannes (Dr. Mrebe and Johannes decided to admit Mqithwa from 1 August 20.1. Maithwa will contribute the following to acquire a fifth of the net asset share of the partnership 1. Cash...... 2. Farming equipment worth Mrebe and Johannes agreed to relinquish 20% of their share in profits or losses to Maithwa in the ratio of 3.1 respectively All other assets were revalued before admitting Mqithwa to the partnership A valuation loss was correctly calculated at... QUESTION 1 Which one of the following alternatives represents the new profit-sharing ratio after the admission of Maithwa into the new partnership? 21300 58000 44000 A. 7:9:2 B. 22:1 C. 3:1:4 D. 7:9:4 Reset Selection Question 2 of 4 3.0 Points QUESTION 2 Which one of the following alternatives represents the correct balance in the capital account of Mrebe after the valuation of assets and prior to the admission of Maithwa? A. 125 400 B. 112950 . . C. 147 900 . D. 123 200 QUESTION 3 Which one of the following alternatives represents the correct balance in the capital account of Johannes after the valuation of assets and prior to the admission of Mithwa? . A. 51 000 B. 45 950 . . C. 59 900 D. 50 000 Reset Selection Question 4 of 4 3.0 Points QUESTION 4 Which one of the following alternatives represents the correct amount of goodwill in the accounting records of Kwaongo Farmers after the admission of Mithwa? A. 92 400 B. 90 800 . . C. 83 100 D. 109 400 Reset Selection