Answer question 39-43.

38 What is John's closing Capital balance? (a) $20,800Cr. (b) $21,200Cr. (c) $38,000Cr. (d) $21,000Cr. 39 Adam and Eve are in partnership sharing profits according to their Capital A/c balance. What is Eve's Share of protit? (a) $15,000 (c) $7,000 (b) $17,500 (d) $8,750 40 The closing balance on each partner's Current A/c is entered In the (a) Balance Sheot (c) Appropriation A/c (b) Capital A/C (d) Trading and Profit \& Loss A/C 41 Peter joined a partnership bringing in a Car valued at $15,000 and cash of $20,000. What are the journal entries to record his entry into the partnership? 42 Jim and Boe are in partnership sharing profits in the ratio 3:2 respectively. If Net Profit is $25000, what is Boe's Share of Profit? (a) $16,667 (c) $15,000 (b) $10,000 (d) $20,000 43 The maximum number of parthers that are allowed in a partnership are (a) 20 (b) 2 (c) 5 (d) 10