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Check my work Required information Part 2 of 2 [The following information applies to the questions displayed below. 1.9 points Meir, Benson, and Lau are
Check my work Required information Part 2 of 2 [The following information applies to the questions displayed below. 1.9 points Meir, Benson, and Lau are partners and share income and loss in a 3:2:5 ratio. The partnership's capital balances are as follows: Meir, $118,000; Benson, $79,000; and Lau, $203,000. Benson decides to withdraw from the partnership, and the partners agree not to have the assets revalued upon Benson's retirement. Skipped Assume that Benson does not retire from the partnership described in Part 1. Instead, Rhode is admitted to the partnership? February 1 with a 25% equity Prepare journal entries to record Rhode's entry into the partnership under each of the following separate assumptions: Rhode invests (a) $133,333; (b) $97,333; and (c) $174,666. (Do not round your intermediate calculations.) eBook Print References View transaction list Journal entry worksheet 3
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