1.A, B and C formed a partnership. Their contributions are as follows:

A

B

C

Cash

80,000

20,000

200,000

Equipment

160,000

Totals

80,000

180,000

200,000

Additional information:

Although C has contributed the most cash to the partnership, he did not have the full amount of 200,000 available and was forced to borrow 80,000.

The equipment contributed by B has an unpaid mortgage of 40,000, the repayment of which, is assumed by the partnership.

The partners agreed to equalize their interest. Cash settlements among the partners are to be made outside the partnership.

Requirements:

a.Which partner(s) shall receive cash payment from the other partner(s)?

b.Provide the entry to record the contributions of the partners.

2.A and B agreed to form a partnership. The partnership agreement stipulates the following:

Initial capital of 280,000.

A 60:40 interest in the equity of the partnership.

A contributed 200,000 cash while B contributed 80,000 cash.

Requirement: Which partner should provide additional investment (or withdraw part of his investment) in order to bring the partners' capital credits equal to their respective interests in the equity of the partnership?

3. A, B and C formed a partnership. Their contributions are as follows: A B C Cash 80,000 20,000 200,000 Equipment 160,000 Totals 80,000 180,000 200,000 Additional information: Although Chas contributed the most cash to the partnership, he did not have the full amount of F200,000 available and was forced to borrow $80,000. The equipment contributed by B has an unpaid mortgage of P40,000, the repayment of which, is assumed by the partnership. The partners agreed to equalize their interest. Cash settlements among the partners are to be made outside the partnership- Requirements: a. Which partner(s) shall receive cash payment from the other partner(s)? b. Provide the entry to record the contributions of the partners. 4. A and B agreed to form a partnership. The partnership agreement stipulates the following: . Initial capital of P280,000. A 60:40 interest in the equity of the partnership. A contributed P200,000 cash while B contributed $80,000 cash. Requirement: Which partner should provide additional investment (or withdraw part of his investment) in order to bring the partners' capital credits equal to their respective interests in the equity of the partnership