Moodle SUC You Η Introduction to Accounting ||(1) Back to course "Introduction to Accounting 11(1) ka Question 8 Not yet answered Ahmed and Salim forma partnership on June 1

Accounting Nov 05, 2020

Moodle SUC You Η Introduction to Accounting ||(1) Back to course "Introduction to Accounting 11(1) ka Question 8 Not yet answered Ahmed and Salim forma partnership on June 1. Ahmed contributes OMR 15,000 cash, inventory with a market value of OMR 40,000 and Accounts Payable of OMR 80,000. Ahmed also contributed computer equipment with a cost of OMR 80,000 and accumulated depreciation of OMR 20,000. Current market value is OMR 85,000 Ahmed's Capital will be Marked out of 1.50 Flag question Select one: a. Debit, 30.000 b. Debit, 60,000 c. Credit, 30.000 d. Credit, 60,000 Next page Previous page

Expert Solution

d. Credit, OMR 60,000Calculated Ahmed's CapitalCash15,000CrInventory40,000CrComputer Equipment85,000CrTotal140,000CrAccounts Payable80,000DRNet Capital60,000CR

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