At April 30, partners capital balances in PDL Company are G. Donley $49,400, C. Lamar $50,800, and J. Pinkston $15,400. 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.

Journalize the admission of Terrell under each of the following independent assumptions.

(1)Terrell purchases 50% of Pinkstons ownership interest by paying Pinkston $17,000in cash.(2)Terrell purchases 33¹/₃% of Lamars ownership interest by paying Lamar $14,600in cash.(3)Terrell invests $60,400for a 30% ownership interest, and bonuses are given to the old partners.(4)Terrell invests $42,600for a 30% ownership interest, which includes a bonus to the new partner.

lamars capital balance is $33,800after admitting Terrell to the partnership by investment. If Lamars ownership interest is 20% of total partnership capital, what were (1) Terrells cash investment and (2) the bonus to the new partner?

(1)	Terrells cash investment	$
(2)	Bonus to new partner

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