Page 17 - 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 17 %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 (3)On 1/7/2020, A & B agreed to form AB Partnership with total capital $300,000 divided between them at ratio of 1:2 respectively. The agreement between them stated the following:Partner A is to present his share in Cash on the formation date. Partner B is to transfer the assets & liabilities of his sole enterprise at their Market Values.The balance sheet of the sole enterprise on the formation date was as follows: Building 300,000 Capital 100,000(-) Accum. Dep. (120,000) General Reserve (RE) 200,000180,000Furniture 150,000(-) Accum. Dep. (80,000)70,000AR 20,000 AP 100,000(-) AFDA (5,000)15,000Inventory 25,000Cash in Bank 25,000Notes Receivable 50,000Investment in Securities 35,000Total Assets 400,000 Total Liabilities & OE 400,000The revaluation of the assets revealed that the market value of the assets are equal to their book value except for the following market value: Building $300,000 %u2013 AR $7,000 - Investment in Securities $30,000 - The Present Value of NR $45,000Required: Prepare the entries & the opening balance sheet.A BHis share = 300,000 %u00d71 = 100,000 3Paid in cash:Cash 100,000A%u2019s capital 100,000His share = 300,000 %u00d72 = 200,000 3Paid with his sole enterprise:Building 300,000Furniture 70,000AR 20,000Inventory 25,000Cash 25,000NR 50,000Investment in securities 30,000AFDA (20,000 - 7,000) 13,000AFDN (50,000 - 45,000) 5,000AP 100,000B%u2019s capital 200,000Revaluation Reserve 202,00015520,000318,000