Page 13 - 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 13 %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%u0629Exercise (1): A & B agreed to form a partnership with total capital $200,000. A%u2019s share in capital is $20,000 to be paid in cash on 1/1/2020. B%u2019s share in capital is $180,000 to be paid by presenting his building on 1/1/2020, which he had purchased 2 years ago with a Cost of $100,000 and Net Book Value of $90,000, knowing that its Market Value is $120,000 & this building is subject to mortgage payable of $10,000.If the partners agreed that Partner B has to pay any difference between his share in capital & his contributed building in Cash on the same date.Required: Prepare the entries & the opening balance sheet.Exercise (2): Samir and Magdy began a Partnership on 1/1/2020. Samir invested $40,000 as well as Inventory costing $15,000 but with a current appraised value of only $12,000. Magdy presented a building with book value of $40,000 and fair value of $48,000. The partnership also acceptedresponsibility of a $10,000 note payable owed in connection with this building.The partners agreed to begin operation with equal capital balances of $52,000 each. Magdy insisted on paying any deficit between his net assets & his capital share in cash.Required: Prepare the entries & the opening balance sheet.Exercise (3): On 1/7/2020, Shady, Fady, & Hady decided to establish a limited partnership with total capital $100,000 divided between them at ratio of 2:2:1 respectively.Shady will pay his contribution in cash on 1/7.Fady will pay his share in capital by presenting a car with a cost of $50,000 but the market value is $35,000.Hady will pay his share in capital by presenting his own building with a cost of $60,000 & the fair market value is $40,000.Each partner has the right to pay or withdraw the difference between his contribution & his share in the capital in cash.Required: Prepare the entries & the opening balance sheet.Exercise (4): On 1/1/2020, A & B agreed to form AB Partnership with total capital $300,000. A%u2019s share in capital is $100,000 & he will pay in cash on 1/1. However, B will contribute his share by presenting the following assets on 1/1:Asset Book Value Market ValueLand 17,000 45,000Equipment 25,000 20,000Inventory 38,000 35,000AR 50,000 40,000NP (Land) 25,000 20,000If the partners agree that Partner B has the right to pay or withdraw the difference between his contribution and his capital in cash on the same date.Required: Prepare the entries & the opening balance sheet.11