At April 30, partners' capital balances in Cullumber Company are G. Donley $55,120, C. Lamar $50,880, and J. Pinkston $19,080. 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 O decimal places, e.g. 5,275.) (1) Terrell purchases 50% of Pinkston's ownership interest by paying Pinkston $16,960 in cash. Terrell purchases 33/3% of Lamar's ownership interest by paying Lamar $15,900 in cash. (2) (3) Terrell invests $65,720 for a 30% ownership interest, and bonuses are given to the old partners. Terrell invests $44,520 for a 30% ownership interest, which includes a bonus to the new partner. (4) No. Account Titles and Explanation 1. 2. Debit Credit

At April 30, partners' capital balances in Cullumber Company are G. Donley $55,120, C. Lamar $50.880, and J. Pinkston $19.080, 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 occount titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e3. 5.275.) (1) Terrell purchases 50% of Pinkston's ownership interest by paying Pinkston $16,960 in cash (2) Terrell purchases 33% of Lamar's ownership interest by paying Lamar $15,900 in cash. (3) Terrell invests $65,720 for a 30% ownership interest, and bonuses are given to the old partners. (4) Terrell invests $44,520 for a 30% ownership interest, which includes a bonus to the new partner. Lamar's capital balance is $33,920 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) Terreli's cash investment (2) Bonus to new partner