Page 67 - 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 67 %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%u0629Exercise (1) A & B have capital balances $200,000 & $400,000. They share the P&L equally. They agree to admit C to the P.Sh. C invests $200,000 cash to receive 20% of capital and P&L. The land of the old partnership is overvalued by $40,000. And the partners agreed to record G.W. to old partners.Required: Prepare the admission entry(ies).Exercise (2) A & B agreed to admit C to their partnership for 25% interest in capital and P&L. Capital A $100,000, capital B $150,000 and they have shared P&L equally. C invested cash of $100,000. If the land was undervalued by $50,000 and they agreed to record its revaluation.Required: Prepare the admission entry (iesExercise (3) A & B have Capital Balances of $100,000 each. They share Profit & Loss on a ratio 3:2. They agreed to admit Partner C to the partnership. Partner (C) paid Cash of $200,000 to the Partnership for 30% interest in the Capital & Earnings of the New Company. Before admitting Partner (C), They agreed to record revaluation of Land which was undervalued by $100,000Required: Prepare the admission entry (iesExercise (4) A & B have Capital Balances of $100,000 and $200,000. They share Profit & Loss Equally. They agreed to admit Partner C to the partnership. Partner (C) paid Cash of $300,000 to the Partnership for 40% interest in the Capital & Earnings. They agreed to record Goodwill if needed.Required: Prepare the Journal Entry (ies) to record the admission of Partner (C).Exercise (5)Use the following information to solve questions from 1 to 4:- A & B are two partners in a Partnership. They share Profit & Losses in ratio Equally and their Capital Balances were $180,000 and $280,000 respectively. The partners agreed to revaluate Land which was undervalued by $40,000 & after Revaluation of Assets, Partners (A & B) agreed on admitting Partner C to their partnership who invested $200,000 Cash in the partnership for 25% Interest in Total Capital of the new company. The partners agreed to record Goodwill to Old Partners before admission of New Partner1- The Journal entry required to record Revaluation of Assets will include:a) Land is debited by $40,000 & Capitals (A) & (B) are credited by $40,000 each.b) Land is debited by $40,000 & Capitals (A) & (B) are credited by $20,000 each.c) Land is credit by $40,000 & Capitals (A) & (B) are debited by $20,000 eachd) None of the above 2- the Total Goodwill that should be recorded will be:a) $75,000 b) $100,000 c) $140,000 d)$166,0003- Based on your answer in the previous Question No. (2): The Journal entry to record Goodwill will include:a) Debiting Goodwill by $75,000 & Crediting Capital (A) & (B) by $37,500 eachb) Debiting Goodwill by $100,000 & Crediting Capital (A) & (B) by $50,000 eachc) Debiting Goodwill by $140,000 & Crediting Capital (A) & (B) by $70,000 eachd) Debiting Goodwill by $166,000 & Crediting Capital (A) & (B) by $83,000 each65