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EX 12-10 Admitting new partners OBJ. 3 Hope Abrams and Crystal Santori are partners who share in the income equally and have capital balances of
EX 12-10 Admitting new partners OBJ. 3 Hope Abrams and Crystal Santori are partners who share in the income equally and have capital balances of $180,000 and $62,500, respectively. Abrams, with the consent of Santori, sells one-third of her interest to David Cruz. What entry is required by the partnership if the sales price is (a) $60,000? (b) $80,000? EX 12-10 Admitting new partners OBJ. 3 Hope Abrams and Crystal Santori are partners who share in the income equally and have capital balances of $180,000 and $62,500, respectively. Abrams, with the consent of Santori, sells one-third of her interest to David Cruz. What entry is required by the partnership if the sales price is (a) $60,000? (b) $80,000
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