Page 18 - 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 18 %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%u0629Assets Balance sheet on 1/7/2020 Liabilities & O.E%u2019s%u2019sExample (4)On 1/1/2020, Ahmed, Aly & Bakr agreed to form a partnership with total capital $100,000. Ahmed%u2019 share in capital is $30,000, while Aly%u2019s share is $20,000, & the remaining capital is assigned to Bakr. The partners agreed that:Ahmed & Aly contributed their shares in cash at once on the formation date. Bakr contributed his share by transferring the assets and liabilities of his sole enterprise which had the following Balance Sheet on the formation date:Cash 10,000 Capital 33,000AR 5,000 Net Income 7,000Building 100,000(-) Accum. Dep. (60,000) Accounts Payable 20,00040,000Prepaid Advertising 5,000Total Assets 60,000 Total Liabilities & OE 60,000The market value of the Building is $50,000 and the agreed net realizable value of AR is $4,000. Bakr must pay or receive the difference between his capital and net assets contributed in Cash.Required: Prepare the entries & the opening balance sheet.Ahmed Aly BakrHis share = 30,000 His share = 20,000 His share = 100,000 - 50,000 = 50,000Cash 30,000Ahmed%u2019scapital30,000Cash 20,000Aly%u2019s capital 20,000AR 5,000Building 50,000Cash 16,000AFDA (5 %u2013 4) 1,000AP 20,000Bakr%u2019s capital 50,000Assets Balance sheet on 1/1/2020 Liabilities & O.E%u2019s%u2019s%u2019s16