6. Which of the following would not be recorded in the entry for the formation of a partnership? a. Accumulated depreciation b. Allowance for doubtful accounts c. Accounts receivable d. All of these would be recorded. 7. A partners' capital statement explains a. the amount of legal liability of each of the partners. b. the types of assets invested in the business by each partner. c. how the partnership will be capitalized if a new partner is admitted to the partner ship d. the changes in each partner's capital account and in total partnership capital dur- ing a period. 8. Partner A receives $210,000 and Partner B receives $140,000 in a split of $350,000 net income. Which expression does not reflect the income splitting ar- rangement? a 3:2 b. 3/5 & 215 C 6:4 d. 2:1 9. Which of the following would not be considered an expense of a partnership in determming income for the period? a. Expired insurance b. Income tax expense c Rent expense d. Utilities expense 10. A partner invests into a partnership a building with an onginal cost of $90,000 and accumulated depreciation of $40,000. This building has a $70,000 fair market val ue. As a result of the investment, the partner s capital account will be credited for a $70.000 _ $50.000 $90 000 d. S120 000