Homework 1 The Struter Partnership has total partners' equity of $460,000, which is made up of Main, Capital $322000, and Frist, Capital $138,000. The partners share net income and loss in a ratio of 82% to Main and 18% 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 joumal entries to record the admission of Adison for a 20% interest in the equity and a 20% share in any income and loss under the following independent assumptions (Record the admission of Adison with an investment of $115,000 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 $150,000 for a 20% interest in the equity and a 20% share in any income and loss 3) Record the admission of Adison with an investment of $85,000 for a 20% interest in the equity and a 20% share in any income and loss Sook