HW Score: Homework: Ch 12 Homework B - Graded Question 5, EF12- 19 (similar to) Part 1 of 6 57.66%, 25.37 of > 44 points Save Points: 0 of 6 Higgins is admitted to the partnership of Rose & Naser Prior to her admission, the partnership books show Rose's capital balance at $150,000 and Naser's at $75,000. Assume Rose and Naser 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. Higgins pays $115,000 for Naser's equity. Higgins pays Naser directly. 4 Begin by computing the partner's equity base for plan a. Higgins pays $115,000 for Naser's equity. Higgins pays Naser directly (Enter a share for each partner. Complete all answer boxes. For accounts with a $0 balance, make sure to enter "0" in the appropriate cell. Enter negative amounts with a parentheses or minus sign.) Plan A Rose Naser Higgins Plan A: Partnership capital before admission of Higgins $ 150,000 $ 0 Plan A: Effect on capital balance as a result of admission of Higgins 115,000 (115,000) 115,000 $ 150,000 0 115,000 Plan A: Partnership capital after admission of Higgins equirements 1. Compute each partner's equity on the books of the new partnership under the following plans a. Higgins pays $115,000 for Naser's equity. Higgins pays Naser directly. b. Higgins contributes $75,000 to acquire a 1/4 interest in the partnership. c. Higgins contributes $120,000 to acquire a 1/4 interest in the partnership. 2. Journalize the entries for admitting the new partner under plans a, b, and c