=+EX 12-6 Negotiating incomesharing ratio obj. 2 Bonds obtained appraised values for the land and equipment as follows:

Land $250,000 Equipment 21,000 An analysis of the accounts receivable indicated that the allowance for doubtful accounts should be increased to $6,000.

Journalize the partnership’s entry for Bonds’s investment.

Ben Bowman and Savannah Mapes formed a limited liability company with an operating agreement that provided a salary allowance of $75,000 and $60,000 to each member, respectively. In addition, the operating agreement specified an income-sharing ratio of 3:2. The two members withdrew amounts equal to their salary allowances.