Reema has a $800 as a book value for its supplies while its fair value is $650 prior to the formation of its partnership with Haifa. When Reema invests her supplies in the partnership, the supplies should be recorded as:

Select one:

a. Dr. Supplies $150

b. Dr. Supplies $1,450

c. Dr. Supplies $800

d. Dr. Supplies $650

Dena and Ruba are forming a partnership. Dena is transferring 60,000 SR of personal cash to the partnership. Ruba owns a truck that has a book value of 100,000 SR and fair value of 150,000 SR, which she transfers to the partnership; the accumulated depreciation for the truck was 5000 SR. To journalize Rubas investment:

Select one:

a.

Dr. Equipment (truck) 150,000

Cr. Rubas Capital 150,000

b.

Dr. Equipment (truck) 150,000

Cr. Accumulated Depreciation 5,000

Cr. Rubas Capital 145,000

c.

Dr. Equipment (truck) 100,000

Cr. Accumulated Depreciation 5,000

Cr. Rubas Capital 95,000

d.

Dr. Equipment (truck) 100,000

Cr. Rubas Capital 100,000