8 8 A and aged to fom a partnership. A contbated P 300000 cash . wile 8 contbuted nis expen parsers agroornt tpunos Ba Aang anahave wg Matern ctl risa Which ofthe folowing is coract? '8) Immediately after the formation of the partnership, the balance of A capital c immediate afer fA capital account in the partnership ») Immediately ater the formation ofthe partnership the balance of 8 capital account inthe partner Immediately partnership, the balance of 8 capital account Inthe partnership c) As contnnson wil be debe for P 200,00, bl he nace o A's capa account wb P1500 ) None of these a mae ceok A®, Statement 1. A bonus exists when the capital account ofa partners credited for an amount greater han of Tesser than the fair value of his contribution. ‘Statement 2: A bonus given toa partners treated as an adjustment to the capital account of the other partners. a) True: Tue ») False: False ©) Tre: False 6) False: True 1p 10. Fay and May agreed to form a partnership. The agreement stpustes that Fay shall conte non-cash Fay arts far value of P 150,000 and while May shal contre cash of P 150,000, However since Fay eet bringng her spect skis tothe partnership, the partners agreed that Fay shal be ented toa 80% intetest in partnership profits and losses, Which of the folowing is incorrect? R ’) Fay's contribution shall be debited for P 150,00 FF car copia of he partnership immeciaaly after the formation of he partnerships 200 000 Orage capital socount balance immediatly ae he fomation of he parnersti s P190.000 4d) None of these.0» Capit esr the