Page 26 - 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 26 %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%u062925- If the partnership did not accept the responsibility of the Note Payable owed in connection with the Building & there is no agreement to settle any difference in cash. then the complementary (if any) in the formation journal entry related to Partner Magdy will be:A) Cash Credit by $14,000B) Cash Debit by $14,000C) Goodwill Debit by $14,000D) Revaluation Reserve Credit by $14,000E) None of the above26- If the partnership did not accept the responsibility of the Note Payable owed in connection with the Building & the partners agreed to settle any difference in cash. then the complementary (if any) in the formation journal entry related to Partner Magdy will be:A) Cash Credit by $14,000B) Cash Debit by $14,000C) Goodwill Debit by $14,000D) Revaluation Reserve Credit by $14,000E) None of the aboveUse the following information to solve problems from 27 to 33:On 1/1/2020, Partners (A & B) agreed to form AB Partnership. A%u2019s share in capital is $100,000 & he paid in cash on 1/1. However, B contributed his share by presenting the following assets on 1/1:Asset Book Value Market ValueLand 42,000 65,000Inventory 38,000 35,000AR 50,000 40,000NP (Land) 25,000 20,00027- If the share in Capital of Partner B is equal to his net assets contributed. Then the total capital of the whole partnership will be equal to: A) $100,000 B) $120,000 C) $160,000 D) $220,000 E) None of the above28- If the share in Capital of Partner B is more than his net assets contributed, by $60,000. Then the total capital of the whole partnership will be equal to: A) $100,000 B) $120,000 C) $300,000 D) $320,000 E) None of the above29- If the share in Capital of Partner B is less than his net assets contributed, by $50,000. Then the total capital of the whole partnership will be equal to: A) $100,000 B) $170,000 C) $160,000 D) $210,000 E) None of the above30- If the capital share assigned to Partner B is $200,000 and there is no agreement to settle any difference in Cash, then in the formation journal entry we must: A) Debit Land by $42,000B) Debit AR by $40,000C) Debit NP by $20,000D) Debit Goodwill by $40,000E) Debit Goodwill by $80,00024