Q2 7 POINTS On 1/1/2018 Ahmad has his own business and his balance sheet as follows capital AP Nese 44,750 4 AR On the same date agree with Majed to establish the partnership with total capital S100.000 divided equally between them Ahmed agree to transfer the following assets and liabilities and paid the balance cash Assets fair value Inventory 12,500 Equipment 12,000 Lands 22,000 AR 3,500 1,800 5.200 And agree majed paid his share in capital cash Required: 1. Prepare journal entries 2 prepare opening balance sheet NP Q3 (6 POINTS) A) What is the approaches used when new partner enter the partnership by investing cash? please explain these approaches and discuss which approach is better? B) What is the difference between ordinary shares and preference shares