Harris is admitted to the partnership of Reason & Notch. Prior to her admission, the partnership books show Reason's capital balance at $200,000 and Notch's at $100,000. Assume Reason and Notch share profits and losses equally, Read the requirements Requirement 1. Compute each partner's equity on the books of the new partnership under the following plans: a. Harris pays $135,000 for Notch's equity. Harris pays Notch directly Begin by computing the partner's equity base for plan a. Harris pays $135,000 for Notch's equity. Harris pays Notch directly. (Enter a share for each partner. Complete all answer boxes. For accounts with a 50 balance, make sure to enter "o" in the appropriate cell. Enter negative amounts with a parentheses or minus sign.) Plan A Reason Notch Harris Plan A: Partnership capital before admission of Harris Plan A: Effect on capital balance as a result of admission of Harris Plan A: Partnership capital after admission of Harris i Requirements - X 1. Compute each partner's equity on the books of the new partnership under the following plans: a. Harris pays $135,000 for Notch's equity. Harris pays Notch directly. b. Harris contributes $100,000 to acquire a 1/4 interest in the partnership. c. Harris contributes $140,000 to acquire a 1/4 interest in the partnership, 2. Journalize the entries for admitting the new partner under plans a, b, and c. Print Done Enter any number in the edit fields and then click Check Answer ? 5 parts Clear All Check Answer remaining Type here to search