1 point salma and gina form apartnership. salma contributes $50,000 cash. gina contributes equipment valued at$40,000 the journal entry will be cash debit 90,000; owner's equity 90,000 cash debit 50,000 and equipment debit O 40,000; salma capital credit 50,000 and gina capital credit 40,000 have no cash debit 50,000 and equipment O debit 40,000: gina capital credit 50,000 and salma capital credit 40,000 on lamis 's capital balance, before division 1 point of profits or losses is $40,000 and menna's capital balance is $20,000. The partnership agreement calls for income or loss to be allocated based on the relative capital balances. Net income for 2008 is$30,000 lamis capital will increase by 20,000 Olamis capital will increase by 10,000 non of the above