Page 31 - 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 31 %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%u062918- If the capital share assigned to Partner B is $150,000 and there is no agreement to settle any difference in Cash, then the complementary (if any) in the formation journal entry is:A) Cash Debit by $40,000B) Cash Credit by $40,000C) Goodwill Debit by $40,000D) Revaluation Reserve Credit by $40,000E) None of the above19- If the capital share assigned to Partner B is $150,000 and the partners agreed to settle any difference in cash, then the complementary (if any) in the formation journal entry will be:A) Cash Debit by $40,000B) Cash Credit by $40,000C) Goodwill Debit by $40,000D) Revaluation Reserve Credit by $40,000E) None of the above20- If the capital share assigned to Partner B is $70,000 and there is no agreement to settle any difference in Cash, then the complementary (if any) in the formation journal entry will be:A) Cash Debit by $40,000B) Cash Credit by $40,000C) Goodwill Debit by $40,000D) Revaluation Reserve Credit by $40,000E) None of the above21- If the capital share assigned to Partner B is $70,000 and the partners agreed to settle any difference in Cash, then the complementary (if any) in the formation journal entry will be:A) Cash Debit by $40,000B) Cash Credit by $40,000C) Goodwill Debit by $40,000D) Revaluation Reserve Credit by $40,000E) None of the aboveUse the following information to solve problems from 22 to 26:Samir and Magdy decided to begin 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. This building is subject to a $10,000 note payable. Knowing that the partners agreed to begin operation with equal capital balances of $52,000 each. 22- To record the contribution of Partner Samir, we must:A) Debit Inventory by $15,000B) Debit Inventory by $12,000C) Credit Capital by $55,000D) Credit Capital by $28,000E) None of the aboveThere is no cash agreement:Capital share (A) 150,000Net Assets (B) (110,000)Goodwill (Dr.) 40,000 +There is cash agreement:Capital share (A) 150,000Net Assets (B) (110,000)Cash increase (Dr.) 40,000 +There is no cash agreement:Capital share (A) 70,000Net Assets (B) (110,000)Revaluation Reserve (Cr.) (40,000)There is no cash agreement:Capital share (A) 70,000Net Assets (B) (110,000)Cash decrease (Cr.) (40,000)Cash 40,000Inventory 12,000Samir%u2019s capital 52,00029