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answer needed before 5 QS 11-9 Admission of a partner-bonus to new partner L04 On June 17, 2020, Bishop agrees to invest $30,000 into an
answer needed before 5
QS 11-9 Admission of a partner-bonus to new partner L04 On June 17, 2020, Bishop agrees to invest $30,000 into an online custom T-shirt print shop business for a 40% interest in total partnership equity. At the time Bishop is admitted, the existing partners, Pollard and Mission, each have a $30,000 capital balance. Prepare the entry on June 17 to record admission to the partnership. Any bonus is to be shared equally by Pollard and Mission. QS 11-10 Admission of a partner-bonus to old partners L04 On April 21, 2020, Wilson agrees to invest $30,000 into Quest, a land development partnership in Niagara-on- the-Lake, for a 20% interest in total partnership equity. At the time Wilson is admitted, the existing partners, Beacon and Metcalf, each have a $30,000 capital balance. Prepare the entry on April 21 to record Wilson's ad- mission to the partnership. Any bonus is to be shared equally by Beacon and Metcalf. OS 11-11 Partner wel Step by Step Solution
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