Page 10 - Demo

%u062c%u0645%u064a%u0639 %u0627%u0644%u062d%u0642%u0648%u0642 %u0645%u062d%u0641%u0648%u0638%u0629 %u0640 %u0627%u0625%u0644%u0639%u062a%u062f%u0627%u0621 %u0639%u0644%u0649 %u062d%u0642 %u0627%u0644%u0645%u0624%u0644%u0641 10 %u0628%u0627%u0644%u0646%u0633%u062e %u0623%u0648 %u0627%u0644%u0637%u0628%u0627%u0639%u0629 %u064a%u0639%u0631%u0636 %u0641%u0627%u0639%u0644%u0647 %u0644%u0644%u0645%u0633%u0627%u0626%u0644%u0629 %u0627%u0644%u0642%u0627%u0646%u0648%u0646%u064a%u0629Example (4)Malika and Mariam agreed to form a partnership with total capital $360,000. Malika%u2019s share in capital is as twice as Mariam%u2019s share and she paid it in cash on 1/5.But Mariam presented the following assets on 4/5 as a payment for her share; knowing that the difference between Mariam%u2019s contribution and her share in the capital should be settled in cash:Asset Market Value Book ValueEquipment Not Available 90,000(-) Accumulated Depreciation (20,000)Building 60,000 70,000(-) Accumulated Depreciation (45,000)Required: 1- Prepare the Journal Entries to record the formation of the partnership.2- Prepare the Opening Balance Sheet of the partnership on the formation date.What is the meaning of %u201cMalika%u2019s share in capital is as twice as Mariam%u2019s share%u201d?It means that:if Mariam%u2019s share = $1, %u2e2b Malika%u2019s share = $2%u2e2b we can divide $360,000 capital between Malika & Mariam at ratio of 2:1 respectivelyMalika MariamHer share = 360,000 %u00d72 = 240,000 3Paid in cash:Cash 240,000Malika%u2019s capital 240,000Her share = 360,000 %u00d71 = 120,0003Paid with assets:Equipment (90,000 %u2013 20,000) 70,000Building 60,000Mariam%u2019s capital 120,000Cash (Complementary) 10,000Assets Balance sheet on 4/5/2020: Liabilities & O.ECash (240,000 - 10,000) 230,000 Malika%u2019s capital 50,000Equipment 70,000 Mariam%u2019s capital 100,000Building 60,000360,000 360,0008