Craig Roberts purchased one-half of Ennis Leighton's interest in the Vale and Leighton partnership for $34,000. Prior to the investment, land was revalued to a market value of $130,000 from a book value of $80,000. Tony Vale and Ennis Leighton share net income equally. Leighton had a capital balance of $36,000 prior to these transactions.

Show your work.

1. What accounting method is used to record the admission of Roberts?
2. . Suggest an alternative method that could have been used to account for the admission of Roberts. Explain the difference.