Exereise 11-9 Admission of a new partner 104 CHECK FIGURES: batRaynolds, Capital: $8,700 c. DrReynolds, Capital $15 300 Talent, a local HR consulting firm, has total partners equity of $774.000, which is made up of Hall, Capital $607,000, and Reynolds, Capital, $167.000. The partners share profit/(losses) in a ratio of 75% to Hall and 259 to Reynolds on July 1, Morris is admitted to the partnership and given a 20% interest in equity Required Prepare the journal entry to record the admission of Morris under each of the following unrelated assumptions, in which Morris invests cash of a. $193,500 b. $237,000 c. $1