Alice and Alex decide to merge their proprietorships into a partnership called AA Partners. Financial Records showed the following: Alice Alex 25 000 32 000 2 400 29 600 Cash Accounts Receivable Less: Allowance for impairment Inventory Equipment Less: Accumulated Depreciation 30 000 40 000 14 000 26 400 The partners agree that the net realizable value of the receivables is $25,000 and that the fair value of the equipment is $22,000. Obsolete stock of $10,000 should be written off. Directions: a.) Two investment entries supported by a table for adjusted and agreed capital based on the following independent situations: 1. Cash Method. Equal interest over the assets with additional investment required to meet this agreement. 2. Goodwill Method. Alex investment represents 40% of total agreed equity. The excess capital for Alice is due to her strong connection in the electronic industry which will ensure a large client base for the partnership. 3. Bonus Method. Equal interest over the partnership with no additional adjustment on the assets. Make a third entry for the bonus capital. 4. Revaluation Method. Alex investment represents 50% of total agreed equity, Total agreed capitalization is lesser than the total actual contributions. They agreed that the investment in equipment should further be reduced. b.) Present the statement of financial position under each of the above situation