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CASH AND CURRENT ASSETS 39000 LIABILITIES 52000 LAND 234000 ADAMS CAPITAL 26000 BUILDING AND EQUIPMENT 130000 BARNES CAPITAL 52000 CORDAS CAPITAL 117000 DAVIS CAPITAL 156000
CASH AND CURRENT ASSETS 39000 LIABILITIES 52000 LAND 234000 ADAMS CAPITAL 26000 BUILDING AND EQUIPMENT 130000 BARNES CAPITAL 52000 CORDAS CAPITAL 117000 DAVIS CAPITAL 156000 TOTALS 403000 TOTALS 403000
PART A: Eden contributes $49,000 into the partnership for a 25% interest. The four original partners share profits and losses equally. Using the bonus method
A. The journal entry to record the admission of Eden
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