/ 1 III Question 25 of 26 View Policies Current Attempt in Progress At April 30, partner capital balances in Sandhill Company are G Donly $50.960.C.Lamar $ 42,000, and J. Pinkston 5 17.640. The Income sharing ratlos are5:4:1, respectively. On w 1, the POLT Compaw is formed by admitting. Terrell to the firm as a partner, (a) Journalize the admission of Terrell under each of the following independent assumptions. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually. Round answers to decimal places, 63, 5,275.) (1) Terrell purchases 50% of Pinkston's ownership interest by paying Pinkston $ 15,680 in cash. Terrell purchases 33/9% of Lamar's ownership interest by paying Lamar $ 14,700 in cash (3) Terrell invests $ 60,760 for a 30% ownership interest, and bonuses are given to the old partivers. (4) Terrell invests $ 41.160 for a 30% ownership Interest, which includes a bonus to the new partner (2) (a) Journalize the admission of Terrell under each of the following independent assumptions. (Credit account titles are outomatically indented when amount is entered. Do not Indent manually. Round answers to decimal places, eg, 5.275) (1) Terrell purchases 50% of Pinkston's ownership interest by paying Pinkston $ 15,680 in cash (2) Terrell purchases 331% of Lamar's ownership interest by paying Lamar $14.700 in cash. (3) Terrell invests $ 60,760 for a 30% ownership interest and bonuses are given to the old partners Terrell invests $41.160 for a 30% ownership Interest, which includes a bonus to the new partner