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3 ! Required information [The following information applies to the questions displayed below.] Part 3 of 7 Debra and Merina sell electronic equipment and supplies
3 ! Required information [The following information applies to the questions displayed below.] Part 3 of 7 Debra and Merina sell electronic equipment and supplies through their partnership. They wish to expand their computer lines and decide to admit Wayne to the partnership. Debra's capital is $190,000, Merina's capital is $152,000, and they share income in a ratio of 3:2, respectively. 5.88 points c. Wayne invests $100,000 for a 25 percent interest. Goodwill is to be recorded. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) X Answer is not complete. No Event General Journal Debit Credit A Cash 100,000 Wayne, Capital 100,000 X Goodwill 14,500 X Required information (The following information applies to the questions displayed below.) Debra and Merina sell electronic equipment and supplies through their partnership. They wish to expand their computer lines and decide to admit Wayne to the partnership. Debra's capital is $190,000, Merina's capital is $152,000, and they share income in a ratio of 3:2, respectively. d. Debra and Merina agree that some of the inventory is obsolete. The inventory account is decreased before Wayne is admitted. Wayne invests $90,000 for a 25 percent interest. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the write-down of inventory. Note: Enter debits before credits.
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