Observation

In this question, candidates were required to write up journal entries in question (a), prepare new partnership capital account in question (b), prepare opening balance sheet of the new firm in (c) and state the ratio in which the future profits or losses would be shared in question (d).

Comment
Majority of the candidates attempted this question but only few of them performed very well.  Some of the candidates could not prepare the journal entries to record the transactions and the partnership capital account that would assist them prepare the balance sheet of the new firm