I have two similar problems that I will be needing help with and I have also attached the full question in a word document but here is a brief description as follows:

Journalize the admission of Terrell under each of the following independent assumptions.

(1) Terrell purchases 50% of Pinkston's ownership interest by paying Pinkston $15,110 in cash.

(2) Terrell purchases 331/3% of Lamar's ownership interest by paying Lamar $14,630 in cash.

(3) Terrell invests $64,000 for a 30% for a ownership interest, and bonuses are given to the old partners.

(4) Terrell invests $41,700 for a 30% ownership interest, which includes a bonus to the new partner.

any help is greatly appreciated.

Thanks

Problem 12-4A At April 30, partners' capital balances in PDL Company are: G. Donley $47,300, C. Lamar $46,200, and J. Pinkston $17,200. The income sharing ratios are 5 : 4 : 1, respectively. On May 1, the PDLT Company is formed by admitting J. Terrell to the firm as a partner. Journalize the admission of Terrell under each of the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) (2) (3) (4) Terrell Terrell Terrell Terrell purchases 50% of Pinkston's ownership interest by paying Pinkston $15,110 in cash. purchases 331/3% of Lamar's ownership interest by paying Lamar $14,630 in cash. invests $64,000 for a 30% ownership interest, and bonuses are given to the old partners. invests $41,700 for a 30% ownership interest, which includes a bonus to the new partner. No Account Titles and . Explanation 1. 2. 3. 4. Debit Credit Lamar's capital balance is $31,010 after admitting Terrell to the partnership by investment. If Lamar's ownership interest is 20% of total partnership capital, what were Terrell's cash investment and the bonus to the new partner? Terrell's cash investment $ $ Bonus to new partner Problem 12-5A On December 31, the capital balances and income ratios in TEP Company are as follows. Partner Trayer Emig Capital Balance $56,807 36,029 Income Ratio 50% 30% Posada 31,390 20% Journalize the withdrawal of Posada under each of the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) Each of the continuing partners agrees to pay $18,426 in cash from personal funds to purchase Posada's ownership equity. Each receives 50% of Posada's equity. (2) Emig agrees to purchase Posada's ownership interest for $24,850 cash. (3) Posada is paid $36,190 from partnership assets, which includes a bonus to the retiring partner. Posada is paid $22,246 from partnership assets, and bonuses to the remaining partners are (4) recognized. No Account Titles and . Explanation 1. 2. Debit Credit 3. 4. If Emig's capital balance after Posada's withdrawal is $39,914, what were the total bonus to the remaining partners and the cash paid by the partnership to Posada? Total bonus Cash paid to Posada $ $