please can you help how to get the answers fpr this problem solving ..

I am really could not get the correct answer.

problem:

On Jan 1, 2011, the Rhiri, Brit & Keisha partnership is formed. Rhiri and Brit contribute cash of $30,000 and $20,000 respectively, while Keisha contributes assets with the following fair values:

Inventory $ 5,000
Land 22,000
Buildings 23,000
TOTAL CONTRIBUTIONS $ 50,000

The partners agree on a profit and loss sharing ratio of 3:2:5. During the first year, net income is $70,000 and the partners’ drawings are Rhirhi — $12,000, Brit —$15,000, and Keisha — $30,000.

Requirements :

1.Record the Initial investment made by each partners during Jan 1.
2.Entries to record withdrawals made by partners.

To solve the problem and find the answers to the requirements, follow these steps:

1. Record the Initial investment made by each partner during Jan 1:
- Rhiri's initial investment: $30,000 cash
- Brit's initial investment: $20,000 cash
- Keisha's initial investment: Inventory ($5,000), Land ($22,000), Buildings ($23,000) = Total assets worth $50,000

2. Entries to record withdrawals made by partners:
- Rhiri's withdrawal: $12,000
- Brit's withdrawal: $15,000
- Keisha's withdrawal: $30,000

Now, let's break down the requirements further:

1. Recording the Initial investment made by each partner during Jan 1:
- For Rhiri: Debit Cash $30,000 and Credit Rhiri's Capital Account $30,000
- For Brit: Debit Cash $20,000 and Credit Brit's Capital Account $20,000
- For Keisha: Debit Inventory $5,000, Debit Land $22,000, Debit Buildings $23,000, and Credit Keisha's Capital Account $50,000

2. Entries to record withdrawals made by partners:
- For Rhiri: Debit Rhiri's Capital Account $12,000 and Credit Cash $12,000
- For Brit: Debit Brit's Capital Account $15,000 and Credit Cash $15,000
- For Keisha: Debit Keisha's Capital Account $30,000 and Credit Cash $30,000

By following these steps, you will be able to correctly record the initial investments and withdrawals made by each partner in the Rhiri, Brit & Keisha partnership.