Porter has a capital balance of $420,000 after adjusting assets to fair market value. Billings contributes $200,000

Question:

Porter has a capital balance of $420,000 after adjusting assets to fair market value. Billings contributes $200,000 to receive a 30% interest in a new with Porter.
Determine the amount and recipient of the partner bonus.

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...