Please answer 4.3 and 4.4 only Question 4John, Paul, George and Richard decide to start a new business. The four partners agree that anyprofit or loss made by the new business will be shared in the same ratio as their contributions tothe start-up capital of the business. Their respective contributions are indicated in the figurebelow. In the fourth worksheet of your Excel answer book provided, create the following:BEGHJohn Paul George Richard2Contribution to start-up capital (in rands) = 80000 60000 40000200004.Contributions as ratio =5Share of first year's profit of R50 000 =78Share of second year's profit =54000Second year's profit =Q.4.1Express the respective contributions of the four partners as a ratio in cells B4 toE4.Q.4.2Determine each partner's share of the first year's profit of R50 000 by entering asuitable function/formula in cells B6 to E6.Q.4.3Given that Paul's share of the second year's profit is R54 000, determine the totalprofit made by the business that year, by inserting an appropriate formula intocell H8.Q.4.4Determine each of the other partner's shares of the second year's profit byinserting an appropriate formula into cells B8, D8 and E8.

A partnership can be defined as a type of business where two or more persons come together to…

Question 4 John, Paul, George and Richard decide to start a new business. The four partners agree that any profit or loss made by the new business will be shared in the same ratio as their contributions to the start-up capital of the business. Their respective contributions are indicated in the figure below. In the fourth worksheet of your Excel answer book provided, create the following: B G H John Paul George Richard Contribution to start-up capital (in rands) = 80000 60000 40000 20000 1 3 4. Contributions as ratio = 6 Share of first year's profit of R50 000 = 8 Share of second year's profit = 54000 Second year's profit = Q.4.1 Express the respective contributions of the four partners as a ratio in cells B4 to E4. Q.4.2 Determine each partner's share of the first year's profit of R50 000 by entering a suitable function/formula in cells B6 to E6. Q.4.3 Given that Paul's share of the second year's profit is R54 000, determine the total profit made by the business that year, by inserting an appropriate formula into cell H8. Q.4.4 Determine each of the other partner's shares of the second year's profit by inserting an appropriate formula into cells B8, D8 and E8.

Question 4 John, Paul, George and Richard decide to start a new business. The four partners agree that any profit or loss made by the new business will be shared in the same ratio as their contributions to the start-up capital of the business. Their respective contributions are indicated in the figure below. In the fourth worksheet of your Excel answer book provided, create the following: B G H John Paul George Richard Contribution to start-up capital (in rands) = 80000 60000 40000 20000 1 3 4. Contributions as ratio = 6 Share of first year's profit of R50 000 = 8 Share of second year's profit = 54000 Second year's profit = Q.4.1 Express the respective contributions of the four partners as a ratio in cells B4 to E4. Q.4.2 Determine each partner's share of the first year's profit of R50 000 by entering a suitable function/formula in cells B6 to E6. Q.4.3 Given that Paul's share of the second year's profit is R54 000, determine the total profit made by the business that year, by inserting an appropriate formula into cell H8. Q.4.4 Determine each of the other partner's shares of the second year's profit by inserting an appropriate formula into cells B8, D8 and E8.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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