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Didi and Chomi are running a business, VaalPure Innovations, a company that specialises in developing cuttingedge water filtration systems for industrial use. VaalPure Innovations operates in the environmental technology sector, focusing on providing sustainable solutions to industries dealing with water scarcity and pollution. Didi and Chomi are in a partnership and share profits and losses in a ratio of : respectively.
On July the following information was extracted from the accounting records of the partnership:
R
Capital Didi R
Capital Chomi R
Current account Didi cr R
Current account Chomi cr R
Additional information:
On August Didi and Chomi decided to admit Lebo to the business as a new partner. Lebo will contribute the following to acquire a fifth of the net asset share of the partnership
Cash...................................................... R
NP Bakkie worth............................ R
Didi and Chomi agreed to relinquish of their share in profits or losses to Lebo in the ratio of : respectively
All other assets were revalued before admitting Lebo to the partnership.
A valuation profit was correctly calculated at R
Correct balance which represents the correct balance in the capital account of Chomi after the valuation of assets and prior to the admission of Lebo?
Instructions:
Round off to the nearest Rand eg: is
Only show the amount, do not show the R eg:
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