Lamb and Meek, partners of Lamb & Meek Limited Liability Partnership who share net income and losses 60% and 40%, respectively, had capital account balances of $70,000 and

$60,000, respectively, on June 30, 2005. On that date Lamb and Meek agreed to admit Niles to Lamb, Meek & Niles Limited Liability Partnership with a one-third interest in total partnership capital of $180,000 and a one-third share of net income or losses, for a cash investment of $50,000.

Prepare a working paper to compute the balances of the Lamb, Capital, Meek, Capital and Niles, Capital ledger accounts on June 30, 2005, following the admission of Niles to Lamb, Meek & Niles Limited Liability Partnership.