Prepare entries to record the following transactions using goodwill method. Show your calculations to get full credit.

1. On January 1, 2018, Ahmed contributes OMR 36,000 cash, a building that has a market value of OMR 156,000, and an equipment that worth OMR 48,000. Salim agrees to operate the business.

2. On January 1, 2019, the business had total capital balances of OMR 450,000. During the year, Ahmed and Salim agreed to accept Nasar as a third partner. Nasar contributes OMR 45,000 cash to the partnership in return for 20% interest in the business. The modified articles of partnership stated that Ahmed will receive 15% of the business income and the remaining will be split on a 60%- 40%

3. On January 1, 2020, the company reported beginning capital balances of OMR 300,000 for Ahmed. By the end of the year, the company reported income of OMR 132,000.

4. On January 1, 2021, Ahmed's capital balance is OMR 319,800, Salim's capital balance is OMR 151,320 and Nasar's capital balance is OMR 110,880. Nasar decided to sell his share to Naji and received OMR 138,000 from him.