Exercise(6) At the end of its year of operations on Dec, 31, 2017, given the following accounts Partner Drawings Capital R $ 20,000 220,000 S 30,000 200,000 A 20,000 500,000 The capital balance represents each partner initial capital investment The partners agreed to admit W as a new partner for 20% of ownership and W invested cash $ 300,000 Required: Record the entry of admission, income ratio equally

Exercise(7) D and S are partners, their capital $ 900,000 (divided 2:1) A new partner K admitted for 30% as investment, and the new capital amounted $ 1,200,000 Required: Record the entry of admission Exercise(8) A and B are partners, they shared profits or loss equally, and the accounting records showed: Total assets 640,000 - Total liabilities 40,000- partners capital (2:1) During the year the company realized profits 100,000 The partners agreed to admit C as a new partner and C paid cash 200,000 to get 30% of the capital as investment Required: 1- Prepare the entry of admission 2-prepare the balance sheet after admission