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Admitting New Partner With Bonus Cody Jenkins and Lacey Tanner formed a partnership to provide landscaping services, Jenkins and Tanner shared profits and losses equally.

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Admitting New Partner With Bonus Cody Jenkins and Lacey Tanner formed a partnership to provide landscaping services, Jenkins and Tanner shared profits and losses equally. After all the tangible assets have been adjusted to current market prices, the capital accounts of Cody Jenkins and tacey Tanner have balances of $47,000 and $61,000, respectively. Valeria Solano has expertise with using the computer to prepare landscape designs, cost estimates, and renderings, Jenkins and Tonner deeen these sits useful; thus, Solano is ditted to the partnership at a 30% interest for a purchase price of $29,000. .. Determine the recipient and amount of the partner bonus b. Provide the journal entry to admit Solano into the partnership for a compound transaction, an amount box does not require an entry leave it blank c. Why would a bonus be pawn this situation? Apparently, Jenkins and Tanner value offered by Solano Admitting New Partner With Bonus Cody Jenkins and Lacey Tanner formed a partnership to provide landscaping services, Jenkins and Tanner shared profits and losses equally. After all the tangible assets have been adjusted to current market prices, the capital accounts of Cody Jenkins and Lacey Tanner haver balances of $47,000 and $61,000, respectively. Valeria Solano has expertise with uning the computer to prepare landecape designs, cost estimates, and renderings Jenkins and Tanner deem these skills useful; thus, Solano is admitted to the partnership at a 30% interest for a purchase price of $29,000. a. Determine the recipient and amount of the partner bonus. b. Provide the journal entry to admit Solano into the partnership, For a compound transaction, and mount box does not require an entry. Heave it bank c. Why would bonus be paid in this situation? Apparently, Jenkins and Toner value offered by Solano

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