Question: Question 1: (7.5 points): A1, A3 Read the following case and answer the following questions as an accountant for the partnership Hassan, Ali, and Rami
Question 1: (7.5 points): A1, A3 Read the following case and answer the following questions as an accountant for the partnership Hassan, Ali, and Rami decided to start a partnership to invite a rap well-known band and to Bahrain in the early beginning of 2019. Ali provided 50% of the partnership capital, Hassan provided 75% of the remaining balance, and Rami the rest. The partner agreement allows each partner to participate in overall management. Questions: 1- What is the type of partnership? Why? (2.5 Points) 2. If the total amount of the partnership capital was $100,000. Rami's share from revenue will be calculated as a percentage of his capital and the partnership revenue was $300,000. a- What is the journal entry you will prepare to record the initial investment in the partnership? (2.5 Points) b- Calculate Rami's share from the total revenue ((2.5 Point
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