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Anderson and Smith agree to admit Lansing to the partnership with a 30% ownership interest. The following data is provided. Anderson Smith Capital $80,000 $70,000

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Anderson and Smith agree to admit Lansing to the partnership with a 30% ownership interest. The following data is provided. Anderson Smith Capital $80,000 $70,000 Income/Loss Ratio 60% 40% Determine Lansing's equity and record the admission under the following assumptions: A. Lansing invests $80,000 Calculation $80,000 (Show all work) In the space provided, record the calculations in determining the amount of Lansing's Capital, and if there are bonuses. (2 pts.) Record Journal Entry below. Record the general journal entry in the space provided in the D2L exam, recording debits first, then indenting all credit accounts and

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