(a)[2]
Suggest two methods, apart from the profit sharing ratio, by which a partnership might reward partners for contributing capital and labour.
(b)[6]
State three distinctions between being a partner in a partnership and being a shareholder in a limited company.
(c)[6]
Calculate the number of shares received by each partner.
(d)[7]
Advise Malcolm on whether he made the correct decision when agreeing to sell the partnership. Use calculations to support your answer.
(e)[4]
Prepare the journal entry that records the acquisition of the partnership in FD Limited’s books. No narrative is needed.