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Below are the initial investments for the partnership that is being formed by Mohammed and Dalia Agreement indicates that both partners will have equal capital

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Below are the initial investments for the partnership that is being formed by Mohammed and Dalia Agreement indicates that both partners will have equal capital interest Mohammed (Cost) Mohammed.(Eair Value) Dalia.(Cost) Dalia.(Eair Value) Cash460,000 460,000 310,000 310,000 Truck7.000.000 5,500,000 Land 7,000,000 7,500,000 Computer 1,500,000 1.400,000 Inventory 180,000 180,000 Required: 1. Using the bonus approach, calculate the capital balances for Mohammed and Dalia (3.5 marks) 2. Using the goodwill approach. Calculate the capital balances for Mohammed and Dalia (1.5 mark) 3. Under the goodwill approach, what is the amount of goodwill that should be recognized by the partnership? (1 mark)

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