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At April 30, partners' capital balances in Sunland Company are G. Donley $48,880, C. Lamar $45,120, and J. Pinkston $16,920. The income sharing ratios are

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At April 30, partners' capital balances in Sunland Company are G. Donley $48,880, C. Lamar $45,120, and J. Pinkston $16,920. 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 $15,040 in cash. (2) Terrell purchases 331/3% of Lamar's ownership interest by paying Lamar $14,100 in cash. (3) Terrell invests $58,280 for a 30% ownership interest, and bonuses are given to the old partners. (4) Terrell invests $39,480 for a 30% ownership interest, which includes a bonus to the new partner. No. Account Titles and Explanation Debit Credit 1. J. Pinkston, Capital J. Terrell, Capital 8460 2. C. Lamar, Capital \begin{tabular}{||r||} \hline 15038 \\ \hline \end{tabular} J. Terrell, Capital \begin{tabular}{||r|} \hline \hline 15038 \\ \hline \hline \end{tabular} 3. Cash 58280 J. Terrell, Capital 50760 G. Donley, Capital 3760 C. Lamar, Capital 3008 J. Pinkston, Capital 4. Cash \begin{tabular}{|r|} \hline 399480 \\ \hline \hline \end{tabular} 4. Cash \begin{tabular}{|l|} \hline 399480 \\ \hline \end{tabular} G. Donley, Capital \begin{tabular}{|r||} \hline 5640 \\ \hline \end{tabular} C. Lamar, Capital 4512 J. Pinkston, Capital \begin{tabular}{|l||} \hline 1128 \\ \hline \hline \end{tabular} J. Terrell, Capital \begin{tabular}{|l|} \hline \hline 0760 \\ \hline \hline \end{tabular} Lamar's capital balance is $30,080 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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