Question # 5 (5 Marks) On June 30, partners' capital balances in a company are Hassan S60,000. Saad $32,000, and Faheem $30,000. The income-sharing ratios are 4:3:1, respectively. On July 1, Admitting Ali to the firm as a partner Instructions (a) Journalize the admission of Ali under each of the following independent assumptions. (1) Ali purchases 40% of Faheem's ownership interest by paying Faheem $11,000 in cash. Debit Credit Display Settings Focus ma (2) Ali purchases 40% of Saad's ownership interest by paying Saad S14,000 in cash. Debit Credit (3) Ali invests S58,000 cash in the partnership for a 40% ownership interest that includes a bonus. Debit Credit (4) Ali invests S48,000 in the partnership for a 25% ownership interest, and bonus method is used. Debit Credit (b) Saad's capital balance is $48,000 after admitting Ali to the partnership by investment. If Saad's ownership interest is 24% of total partnership capital, what were Ali's cash investment (Bonus Method) -RE