Question One: (5 Marks) On February 1, 2018, Abdullah, Faisal and Khalid established a partnership and their contributions are shown in the following table: Abdullah (Fair Faisal (Fair Khalid (Fair Value) Value) Value) Cash SR110,000 SR100,000 SR60,000 (Land (Cost SR 40,000 SR 60,000 (Machines (Cost SR 20,000 SR80,000 (Inventory (Cost SR 100,000 SR 90,000 The capital and profit/loss percentage distributed to Abdullah, Faisal and Khalid by 40%, 20% and 40%, respectively. Required: A. Record the journal entries for their initial investments and calculate the capital balances for Abdullah, Faisal and Khalid as on February 1, 2018. (1 Marks) B. Calculate the capital balances for each partner under bonus method and record the journal entry. (2 Marks) C. Calculate the amount of total goodwill that should be recognized by the partnership. (2 Marks)