Admitting New Partner With Bonus L. Bowers and V. Lipscomb are partners in Elegant Event Consultants. Bowers and Lipscomb share income equally. M. Ortiz will be admitted to the partnership. Prior to the admission, equipment was revalued downward by $6,000. The capital balances of each partner are $87,000 and $122,500, respectively, prior to the revaluation. a. Provide the journal entry for the asset revaluation. If an amount box does not require an entry, leave it blank. b. Provide the journal entry for Ortiz's admission under the following independent situations: 1. Ortiz purchased a 20% interest for $44,000. If an amount box does not require an entry, leave it blank. 2. Ortiz purchased a 30% interest for $110,000. If an amount box does not require an entry, leave it blank. 100 93F Mostly sunny 4:27 PM 6/30/2023

Admilting New Porther With Bonys L. Bowers and v, Lipseomb are parthers in Elegant Event Consultants. Bowars and Lipscomb share income equaliy. M. Ortiz will be adrwitted to the parthership. Prior to the admission, equipment was revalued dowbward by s6, oos. The coptal balances ef each partner are 537,000 and s122,500, respectively, prior to the revaluation. a. Provide the joumal entry far the asset revatuation. If an amount box does not require an entry, leave it biank: b. Provide the journal entry for Ortiz's admission under the following independent situations: 1. Ortiz purchased a 200s interest for $44,000, if an amount box does not regulre an entry, leave it blank