please read the below question and then answer to the best of your ability the given question in the table, thanks. (photo attached)

Question:

On Jan. 1, 2019 Nabil, Gaber and Ali agree to start a partnership named US consultation. The capital of the partnership is $ 120,000 and is divided between partners equally (the capital of each partner is $ 40,000) the partners presented their shares of capital as follows:

Nabil presented $40,000 cash

Gaber presented the following assets: cash 15,000 - car $25,000

Ali presented his proprietorship assets and liabilities as follows: (picture)

Book Value Fair Value Cash 8000 8,000 Inventory 15,000 7,000 Equipment 40,000 30,000 Accumulated depreciation 10,000 Accounts payable 8,000 5,000 Prepare the required entries and the starting statement of financial position. Date Debit Credit Jan. 1 Jan. 1 Jan. 1 The balance sheet at Jan. 1 2019 (statement of financial position) Assets Liabilities and Equity