P 16-8 Recording new partner investment—Various situations The capital accounts of the Ann, Bob, and Car partnership at December 31, 2016, together with profitand loss-sharing ratios, are as follows:

Ann (25%) $75,000 Bob (25%) 100,000 Car (50%) 125,000 The partners agree to admit Dar into the partnership.

562 CHAPTER 16 REQuIRED: Prepare the journal entry or entries to admit Dar into the partnership and calculate the partners’

capital balances immediately after his admission under each of the following independent assumptions:

1. Car sells half of her interest to Dar for $90,000, and the partners agree to admit Dar into the partnership.