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