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A. Veveris and J. Rubenis share profit on a 2:1 basis, respectively. They have capital balances of $45,320 and $29,680, respectively. when S. Weiss
A. Veveris and J. Rubenis share profit on a 2:1 basis, respectively. They have capital balances of $45,320 and $29,680, respectively. when S. Weiss is admitted to the partnership on September 1, 2021. Prepare the journal entry to record the admission of Weiss under each of the following independent assumptions: (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) 1. 2. Weiss purchases 50% of Ververis's equity for $26,140. This is a personal transaction between the partners. Weiss purchases 25% of Ververis's and Rubenis's equity for $15,390 and $9,650, respectively. This is a personal transaction among the partners. Date Account Titles and Explanation Debit (1) Sept. 1 (2) Sept. 1 (To record purchase of an interest.) (To record purchase of an interest.) eTextbook and Media Credit For each of these alternatives, indicate the balance in each partner's capital account and total partners' equity after Weiss is admitted to the partnership. (Do not leave any answer field blank. Enter O for amounts.) Alternative 1 Beginning $ balance Ending balance $ A. Veveris Capital Alternative 2 Beginning $ balance Ending balance $ A. Veveris Capital $ $ $ 69 J. Rubenis $ Capital J. Rubenis Capital 69 $ $ 69 $ 69 S. Weiss Capital $ S. Weiss Capital $ 69 $ 69
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