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At April 30, partners' capital balances in PDL Company are G, Donley $54, 200, C. Lamar $45, 800, and Pinkston $21, 600. The income sharing
At April 30, partners' capital balances in PDL Company are G, Donley $54, 200, C. Lamar $45, 800, and Pinkston $21, 600. The income sharing ratios are 5: 4: 1, respectively, On May 1, the PDUT 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. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to o decimal places, e.g. 5, 275.) Terrell purchases 50% of Pinkston's ownership interest by paying pinkston $16, 200 in cash. Terrell purchases 33^1/3% of ownership interest by paying Lamar $15, 200 in cash. Terrell invests $64, 800 for a 30% ownership interest, and bonuses are given to the old partner. Term vests $12, 600 for a 30% ownership interest, which includes a bounds to the new partner. Lamar's capital balance is $39, 800 after admitting Terrell to the partnership by investment. lf Lamar's ownership interest is 20% of total partnership capital, what were Terrell's cash investment and the bonus to the new partner? Terrell's cash investment $ Bonus to new partner $
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