b. Jaydyn Tellisis admitted to a partnership. Prior to the admission of Tollis, the partnership books show Tanya Whitford's Capital balance at $82,000 and Albert Bridges Capital balance at 541,000. Whitford and Bridges share profits and losses equally. Required 1. Compute the amount of each partner's equity on the books of the new partnership under the following plans: a. Tellis purchases Bridges' interest in the business paying $48,750 directly to Bridges Tellis invests $41,000 to acquire a one-fourth interest in the partnership Tellis invests $74,000 to acquire a one-fourth interest in the partnership 2. Make the partnership journal entry on March 4 to record the admission of Tellis under plans (a), (b) and (c) in Requirement 1. Explanations are not required. Requirement 1. Compute the amount of each partner's equity on the books of the new partnership based on each of the plans. (Enter a share for each partner. If the share equals zero, enter 6.) Share in Equity Share in Equity Share in Equity Partner Plan A Plan B Planc C. Tellis Whiteford Bridges Total a. Jaydyn Tellis is admitted to a partnership. Prior to the admission of Tellis, the partnership books show Tanya Whitefoed's Capital balance at $82,000 and Albert Bridges Capital balance at $41. Bridges share profits and losses equally. Required 1. Compute the amount of each partner's equity on the books of the new partnership under the following plans Tellis purchases Bridges' interest in the business, paying $48,750 directly to Bridges b. Tellis invests $41,000 to acquire a one-fourth interest in the partnership Tellis invests $74,000 to acquire a one-fourth interest in the partnership 2. Make the partnership journal entry on March 4 to record the admission of Tellis under plans (a), (b), and (c) in Requirement 1. Explanations are not required. Requirement 2. Make the partnership journal entry on March 4 to record the admission of Tellis under plans (a), (b), and (c) in Requirement 1. Explanations are not required. a. Tellis purchases Bridges' interest in the business, paying $48,750 directly to Bridges (Record debits first, then credits. Explanations are not required) Journal Entry Date Accounts Debit Credit C. c. ellis Invests $41,000 to acquire a one-fourth interest in the partnership. Tellis invests $74,000 to acquire a one-fourth interest in the partnership. 2. Make the partnership journal entry on March 4 to record the admission of Tellis under plans (a b. Tellis invests $41,000 to acquire a one-fourth interest in the partnership. Journal Entry Date Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next q o Type here to search c. Tellis invests $74,000 to acquire a one-fourth interest in the partnership. 2. Make the partnership journal entry on March 4 to record the admission of Tellis under plan c. Tellis invests $74,000 to acquire a one-fourth interest in the partnership. Journal Entry Date Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the ne H o Type here to search o
