Page 6 - 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 6 %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%u0629what will happen when you form a partnership?The matter is no longer dependent on one person only, but there are more than one person and each of them contributes to the formation of the company in a certain way, either by providing money or other assets, and you are required to record the contribution (share) of each partner.On January 1, 2020, A, B & C formed their partnership and they agreed to:Assets Balance sheet on 1/1/2020: Liabilities & O.Ecash 200,000 B%u2019s capital 200,000Building 300,000 C%u2019s capital 300,000500,000 500,000Methods of Contribution in the Partnership%u01e6No entriesOnly prepare a memorandumCash xx%u2026 capital xxasset xx%u2026 capital xxFair valuePartner %u201cA%u201d Partner %u201cB%u201d Partner %u201cC%u201dHe will participate in a work sharein return for a monthly salary and a percentage of the profits.He will participate in a cash share, by presenting $200,000 on the formation date.He will participate in a non-cash share, by presenting a building which he bought from 5 years ago for $100,000, but its fair market value now is $300,000.cash 200,000B capital 200,000No entriesOnly prepare a memorandum proving the partner's share of the profits in exchange for the works he provides.On 1/1/2020:Cash 200,000B%u2019s capital 200,000On 1/1/2020:Building 300,000C%u2019s capital 300,000There is a special case of non-cash share when the partner contributes by a sole enterprise, with its full assets and liabilities, which we will discuss in detail in the next lecture.4