Exercise 12-11 (Algo) Admission of new partner LO P3 The Struter Partnership has total partners' equity of $640,000, which is made up of Main, Capital, $448,000, and Frist, Capital, $192,000. The partners share net income and loss in a ratio of 73% to Main and 27% to Frist On November 1, Adison is admitted to the partnership and given a 20% interest in equity and a 20% share in any income and loss. Prepare journal entries to record the admission of Adison for a 20% interest in the equity and a 20% share in any income and loss under independent assumption th Record the admission of Adison with an investment of $160,000 for a 20% interest in the equity and a 20% share in any income and loss (2) Record the admission of Adison with an investment of $195,000 for a 20% interest in the equity and a 20% share in any Income (3) Record the admission of Adison with an investment of $130.000 for a 20% interest in the equity and a 20% share in any income and loss ces View transaction list View journal entry worksheet Transaction No General Journal Debit Cash Adison, Capital 160,000 160.000 3) 195,000 Main Capital Fril Capital Adison Capital 167.000 G 10.000 Cash Main, Capital Frist Capital Adison Cain 1354.000