Page 28 - 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 28 %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%u0629Use the following information to solve questions from 1 to 14:Assume that, on January 1, 2020, Partners (A, B & C) started their business. A's share in Capital is $30,000, B's share in capital is $10,000, and the remaining capital is allocated to Partner C. If they agreed on the following:%u2022 Partners (A & B) contributed their capital in Cash at once on the formation date.%u2022 Partner (C) provided his share by transferring the assets and liabilities of his sole enterprise where:The reported assets on sole enterprise balance sheet $80,000The reported liabilities on sole enterprise balance sheet $40,000The Fair Market Value of assets transferred $150,000The Fair Market Value of liabilities transferred $100,0001- If the share in Capital of Partner C is equal to his net assets contributed. Then the total capital of the whole partnership will be equal to: A) $50,000 B) $90,000 C) $100,000 D) $150,000 E) None of the aboveMarket Value for received Assets 150,000(-) Market Value for received Liabilities (100,000)Net Assets 50,0002- If the share in Capital of Partner C is more than his net assets contributed, by $20,000. Then the total capital of the whole partnership will be equal to: A) $50,000 B) $90,000 C) $110,000 D) $150,000 E) None of the aboveC%u2019s share = 50,000 + 20,000 = 70,000Total capital of the hole partnership = A capital + B capital + C capital = 30,000 + 10,000 + 70,000 = 110,0003- If the share in Capital of Partner C is less than his net assets contributed, by $20,000. Then the total capital of the whole partnership will be equal to: A) $50,000 B) $90,000 C) $110,000 D) $150,000 E) None of the aboveC%u2019s share = 50,000 - 20,000 = 30,000Total capital of the hole partnership = A capital + B capital + C capital = 30,000 + 10,000 + 30,000 = 70,0004- Assume that, the transferred assets include a Building with a Cost of $100,000 and Accumulated Depreciation of $60,000. Then in the formation entry we must:A) Debit Building by $100,000B) Debit Building by $40,000C) Debit Building by $45,000D) Credit Accumulated Depreciation by $60,000E) None of the aboveNet book value of building = 100,000 %u2013 60,000 = 40,0005- Assume that, the transferred assets include a Building with a Cost of $100,000 and Accumulated Depreciation of $60,000. The Market Value of the Building is $45,000. Then in the formation entry we must:A) Debit Building by $100,000B) Debit Building by $40,000C) Debit Building by $45,000D) Credit Accumulated Depreciation by $60,000E) None of the above26