Admitting New Partner Who Contributes Assets After the tangible assets have been adjusted to current market prices, the capital accounts of Grayson Jackson and Harry Barge have balances of $106,000 and $170,000, respectivelyLewan Gorman is to be admitted to the partnership, contributing 71.000 cash to the partnership, for which he to receive an ownership equity of $92,000All partners share equally in income

aJournalize the entry to record the admission of Gorman, who is to receive a bonus of $21,000If an amount box does not require an entryleave it blank

100 What are the capital balances of each partner after the admission of the new partner?

Admitting New Partner Who Contributes Assets After the tangible assets have been adjusted to current market prices, the capital accounts of Grayson Jackson and Harry Barge have balances of. $106,000 and $170,000, respectively, Lewan Gorman is to be admitted to the parthershlo, contributing 571,000 cash to the partnershig, for which he is to receive an ownership equity of $92,000. All partners share equally in income. a. Joumalize the entry to record the admisslon of Gorman, who is to recelve a bonus of 521,000 . If an amount box does not require an entry, leave it blank. b. What are the capital balances of each partner alter the admission of the new partner? b. What are the capitat balances of each partner after the admission of the new partner? tangible asints would bu adjuited to current manket poicen to that the nem parther shindid resilire Would thane lit the Iticreme la the market yatus ot the find