At April 30, partners capital balances in Sunland Company are G. Donley $60,320, C. Lamar $55,680, and J. Pinkston $20,880. 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.

At April 30, partners capital balances in Sunland Company are G.Donley $60,320.C.Lamar $55,680, and J. Pinkston $20,880. The income sharing ratios are 5:4:1, respectively. On May 1, the POLT Company is formed by admitting JTerrell to the firm as a partner (a) Your answer is partially correct 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 decimal places, eg: 5.275) (1) (2) Terrell purchases 50% of Pinkston's ownership interest by saying Pinkston $18.560 in cash. Terrell purchases 33/K of Lamar's ownership interest by paying Lamar 517/00 in cash Terrell invests $71.920 for a 30% ownership interest, and bonuses are given to the old partners. Terrell invests $48.720 for a 30% ownership interest, which includes a bonus to the new partner (3) (4) nak Credit = Your answer is partially correct. 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 decimal places, s 5.275) (1) 12 Terrell purchases 50% of Pinkston's ownership interest by paying Pinkston $18.560 in cath, Terrell purchases 33/9% of Lumar's ownership interest by paying Lamar $17.400 in cash Terrell invests $71.920 for a 30% ownership interest, and bonuses are given to the old partners. Terrell invests $48.720 for a 30% ownership interest, which includes a bonus to the rawporter. (3) (4) No. Account Titles and Explanation Debit Credit 1. Pinkston Capital 10400 Terrell Capital 1000 C.Cat 24 10550 1. Proton Cat 10440 Terre Cat 10440 2. Camarca 1855 Territ 1855 75920 Torres GDC Dontre Card C.Camar, Capital 4. Cash 48720 Donley Capital Pinkston Capital Car, Copital 2784 Terrell. Capital 696 e Textbook and Media Sare for later Attempts: 3 of 5 used SA (b) Suve for later Attempts: 3 of 5 used Submit Anwer (b) Lamar's capital balance is $37.120 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 $ e Textbook and Media Attempts: 0 of Sused Submit An Savelor Later