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Farmation of partnership Assume that two individuals agree to form a partnership. Partner A is...

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Accounting

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Farmation of partnership Assume that two individuals agree to form a partnership. Partner A is contributing an operating business that reports the following balance sheet is contributing that reports the following balance sheet Cash $10,000 Accounts payable $30,000 Recelvables 20,000 Accrued labilitles 20000 Inventortes 40,000 es $50,000 Total assets $70,000 Net assets $20,000 Partner B is contributing cash of $50,000. The partners agree that the initial entry to record the capital contributions of the partners using both the Bonus Method and the Goodwill Method. capital of the partnership should be shared equally, Prepare the Debit Credit Bonus Method: Cash Recevables Accounts payable Accrued liabieies Partner B Capital Goodwill Method: Cash Recevabies Accounts payable

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