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Which is correct assuming capital credits of each partner

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Problem 1: A, B, and C formed a partnership by combining their separate business proprietorships. A contributed cash of ?200,000. B contributed property with carrying amount of ?144,000, original cost of ?160,000 and fair value of ?300,000. The partnership accepted responsibility for the ?150,000 mortgage attached to the property. C contributed equipment with carrying amount of ?150,000, original cost of ?300,000 and fair value of ?180,000. The partnership agreed that the equipment is to be valued at ?100,000. In addition, the partnership agreement specifies that profit and losses are to be shared equally. Assuming the capital credits of each partner reflect the profit and loss ratio. Which of the following is correct?

a. Bonus from partner B.

b. Bonus to partner C.

c. No bonus given nor received by partner A.

d. None of the choices.

Reference no: EM132966160

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