1- Ahmed and Lama formed AL partnership. Ahmed invested cash of KD 10,000, Accounts Receivable (net) of KD 80,000, an Allowance for Doubtful Accounts of KD 12,000, accounts payable of KD 5,000, and Building at a cost of KD 50,000, its Accumulated depreciation is KD 15,000. Lama contributed cash of KD 15,000, Equipment at cost of 72,000 with mortgage of KD 10,000, notes payable of KD 3,000, and Land at a cost of 45,000. Ahmed and Lama agreed that the fair market value of the Building is KD 40,000, and the fair value of the Equipment is KD 65,000. Based on the above, what amount should be recorded in Lama capital account:

Select one:

a. KD 112000

b. KD 113000

c. KD 125000

d. Another amount

2-A and B partners in AB partnership with capital balances of KD 80,000 and KD 100,000, respectively. The income distribution ratio between A and B is 2:3. C agreed to invest KD 60,000 in the partnership in exchange with 30% of the total capital. The capital of partner B after admission of C is:

Select one:

a. KD 95,200

b. KD 92,800

c. Another amount

d. KD 75,200

3- A and B partners in AB partnership with capital balances of KD 75,000 and KD 80,000, respectively. The income distribution ratio between A and B is 2:3. C agreed to pay KD 20,000 to each of A and B for 10% of their interest in the partnership. The capital of partner B after admission of C is:

Select one:

a. Another amount

b. KD 63,750

c. KD 68,000

d. KD 72,000

4- If total exploration cost for one of the oil holes was $80,000,000 and the estimated quantity that can be extracted was 10,000,000 barrels of oil. Total production cost for that year was $5,000,000 to extract 2,000,000 barrels of oil. Based on this, total cost per barrel is:

Select one:

a. $27.5 per barrel

b. $10.5 per barrel

c. $4.5 per barrel

d. Another amount

e. $5 per barrel

5-A, B and C are partners in ABC partnership with capital balances of KD 120,000, KD 80,000, and KD 50,000 respectively. The income distribution ratio between A, B and C is 5:3:2. Partner C withdraws from the partnership and receives a cash payment of KD 55,000 from the partnership. The capital of partner A after withdrawal of C is:

Select one:

a. Another amount

b. KD 116,875

c. KD 113,750

d. KD 76,250

Please answer all questions.