1. ADA and TAYO are in partnership sharing profit and loss equally. The balance sheet as at 31 st  Dec 2012,
    
     CAPITAL(NGN) NET ASSET(NGN)           450,000.00
   ADA                             250,000.00
   TAYO                             200,000.00
   TOTAL                             450,000.00             450,000.00
    
    
                                             
   It was decided to admit JUDE into the partnership and he brought in cash 25,000.
   It was agreed that goodwill was worth 30,000NGN.The profit sharing ratio is ADA 2, TAYO 2;JUDE 2
    SHOW THE CAPITAL ACCOUNT AND BALANCE SHEET AFTER GOODWILL HAS BEEN WRITTEN OFF.
2. WHAT ARE REVALUATION AND REALISATION ACCOUNTS IN PARTNERSHIP AND WHEN DO THESE OCCUR.
3. WHAT IS HIRE PURCHASE CONTRACT
4. FIRE occurred at OBI ltd. Company’s stock and records as at 31/11/2014. The following information is available
   STOCK AS AT 1ST NOV, 2012 =50,000NGN
   SALES – 300,000
   PURCHASE 1200,000
   SALVAGED STOCK 31/11/2014 350,000
   GROSS PROFIT PERCENTAGE 12%
   WHAT IS THE VALUE OF STOCK LOSS?
5. OBI LTD HAS THE FOLLOWING INFORMATION DURING THEIR CONSTRUCTION CONTRACT AS AT 31 DEC ,2021
   VALUE OF WORK CERTIFIED =N25,000,000
   TOTAL CONTRACT VALUE =N70,000,0000
   ESTIMATED TOTAL PROFIT=N12,000,000

REQUIRED
A.CALCULATE THE AMOUNT OF PROFIT TO BE RECOGNISED IN THE PERIOD.

7.STATE AND EXPLAIN BRIEFLY REASONS FOR DISSOLUTION OF PARTNERSHIP.

8.STATE THE CRITERIA OR SEQUENCE OF DISTRIBUTION OF PROCEED WHEN DISSOLUTION OF PARTNERSHIP OCCUR

CALL FOR SOLUTION- WHATSAPP 234 08098810999 ,tconceptpro@gmail.com