Nurul and Fiza are partners of a day care centre called Happy Kids, which they formed on 1 January 2017. Nurul contributed RM80,000 cash and equipment worth RM20,000 to the partnership. Fiza contributed RM30,000 cash and a building worth RM150,000. For financial year ended 31 December 2017, the partnership had a net income of RM150,000.

Nurul and Fiza are partners of a day care centre called Happy Kids, which they formed on 1 January 2017. Nurul contributed RM80,000 cash and equipment worth RM20,000 to the partnership. Fiza contributed RM30,000 cash and a building worth RM150,000. For financial year ended 31 December 2017, the partnership had a net income of RM150,000.

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter21: Partnerships

Section: Chapter Questions

Problem 2BCRQ

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