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At April 3 0 , partners' capital balances in Sandhill Company are G . Donley $ 5 0 , 9 6 0 , C .

At April 30, partners' capital balances in Sandhill Company are G. Donley $50,960, C. Lamar $47,040, and J. Pinkston $17,640. The income sharing ratios are 5 : 4 : 1, respectively. On May 1, the PDLT Company is formed by admitting J. Terrell to the firm as a partner.
(a)
Journalize the admission of Terrell under each of the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g.5,275.)
(1) Terrell purchases 50% of Pinkston's ownership interest by paying Pinkston $15,680 in cash.
(2) Terrell purchases 3313% of Lamar's ownership interest by paying Lamar $14,700 in cash.
(3) Terrell invests $60,760 for a 30% ownership interest, and bonuses are given to the old partners.
(4) Terrell invests $41,160 for a 30% ownership interest, which includes a bonus to the new partner.
No. Account Titles and Explanation
Debit
Credit
1.
2.
3.
4.
(b)
Lamar's capital balance is $31,360 after admitting Terrell to the partnership by investment. If Lamar's ownership interest is 20% of total partnership capital, what were (1) Terrell's cash investment and (2) the bonus to the new partner?
(1) Terrell's cash investment $
(2) Bonus to new partner
$
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