A, B, and C are partners with the following capital balances and profit-and-loss sharing ratios:

A (25%) $75,000

B (25%) 100,000

C (50%) 125,000

Asset Value: 300,000

Required (show all your calculations):

Prepare the journal entries to admit D into the partnership and calculate the partners capital balances immediately after his admission under each of the following independent scenarios:

1. C assigns half of her interest to D for $90,000.
2. D invests $75,000 cash in the partnership for a 25% interest in the partnership capital and profits and the partnership assets are revalued.
3. D invests $80,000 cash in the partnership for a 20% interest in the capital and profits of the partnership and the partnership assets are revalued.
4. D invests $90,000 cash in the partnership for a 30% interest in the capital and profits of the partnership and the partnership assets are not revalued.