Admitaing New Tartaer Who contributes Atrens Ail partners share cqually in incorme. b. What are the capital balances of each partner fiter the admission of the new partner? Feutback Eheck My Work b. Old partner capital amounts must be adjusted for the bonus. New partner: recelved ownership equity amount. c. Why are tangible assets adjusted to current market prices prior to admitting a new partner? Tangible assets should be adjusted to current market prices so that the new partner any gains ar losses from changes in markert pricen gror to being admitted. For example, if the market price of land doubled prior to admitting new partners, the existing partners should ravite the moche in tie vilue of the land in their capital accounts prior to the new partners' admission, Otherwise, would shane in the incease in the incoet walue of the ishe