A) Jeff Adams invested $50,000 in the Warner & Kimball partnership for ownership equity of $50,000. Prior to the investment, land was revalued to a market value of $245,000 from a book value of $210,000. Rachel Warner and Bryan Kimball share net income in a 1:2 ratio.

1. Provide the journal entry for the revaluation of land.
2. Provide the journal entry to admit Nelson.

B) Croteau has a capital balance of $48,000 after adjusting assets to fair market value. Stratton contributes $32,000 to receive a 30% interest in a new partnership with Croteau.

Determine the amount and recipient of the partner bonus. Please show your work.