Normal No Spa.. Heading 1 Heading 2 Tale Subtitle Subtle Em..EmphaisIntenseEStrone Paragraph Styes 1 ltem that occurs when the now partner's investment exceeds the new partner's capital cred 2 Partner who cannot actively participate in the management of the partnership 3. A allocation of partnership prolts and losses when nothing is stated in the partnership agreement ltem that occurs when the new partner's investment equals the new partner's capital credit and no change occurs in the existing partners' capital balances 5. Cost not deducted to determine the partnership's net income for the period Partner who actively participates in the partnership management and whio is personally hable for the partnership's debts ltem that occurs when the new partners capital credit exceeds his or her investment and no change ???rs in the existing partners' capital balances reases when a partner takes assets out of the partnership in anticipation of partnership net income 9 Account that increases for the fair value of noncash assets invested by a partner 0 Related-party transaction that must be disclosed in the notes to the financial statements Item that occurs when the new partner's investment equals his or her capital credit and an 12 tem that occurs when the new partner's capital credit exceeds his or her investment and a 13 Recogntion of an intangible asset upon a new partner's admission to the partnership that 14 Account closed to the capital account at year end 15 Deduction of interest expense on this payable to determine the partnership's net income increase occurs in the existing partners capital balances decrease occurs in the existing partners' capital balances results in increases in the escriptions on t the t erms TERMS: Bonus to existing partners Bonus to new partner Capital account -Drawing accourt