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hello i need help on question B and C as im getting it wrong At April 30, partners' capital balances in DES Partners are Dexter
hello i need help on question B and C as im getting it wrong
At April 30, partners' capital balances in DES Partners are Dexter $35,200, Emley $20,800, and Singh $19,200. The profit-sharing ratio is 5:3:2, respectively. On May 1, DESW Partners is formed by admitting Watson to the firm as a partner with 20% equity. (a) Your answer is correct. Watson invests $18,800. Journalize the admission of Watson. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Watson invests $28,000. Journalize the admission of Watson. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Watson invests $8,000. Journalize the admission of Watson. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
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