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i only need 3,4 and 5 The partnership of Dermanent venhee been operating for several year. The partnere have the following capital accounts and profit-and-1085-sharing
i only need 3,4 and 5
The partnership of Dermanent venhee been operating for several year. The partnere have the following capital accounts and profit-and-1085-sharing ratios: Capital P&L Darman, Capital $740,000 70% Evan, Capital 520,000 30% $1,200,000 100% They plan to admit a new partner, Ford, Into the partnership. Prepare the requested journal entries under the following INDEPENDENT scenarios. Note the new partner's ownership interest can differ botween questions. 2. Ford invests $60.000 for a 40% she can BUNU Ford purchases 60% of Darman and Evan's interests for a total price of $180,000(the partners receive the cash, not the partnership). Use the bonus metod 4 Ford posts 5420,000 for a 30% share in capital and profits & losses. Use thegoodwill method 5. Fordiosts $420.000 for 30% share in capital and profits & losses Assumeovervalued asset The partnership of Dermanent venhee been operating for several year. The partnere have the following capital accounts and profit-and-1085-sharing ratios: Capital P&L Darman, Capital $740,000 70% Evan, Capital 520,000 30% $1,200,000 100% They plan to admit a new partner, Ford, Into the partnership. Prepare the requested journal entries under the following INDEPENDENT scenarios. Note the new partner's ownership interest can differ botween questions. 2. Ford invests $60.000 for a 40% she can BUNU Ford purchases 60% of Darman and Evan's interests for a total price of $180,000(the partners receive the cash, not the partnership). Use the bonus metod 4 Ford posts 5420,000 for a 30% share in capital and profits & losses. Use thegoodwill method 5. Fordiosts $420.000 for 30% share in capital and profits & losses Assumeovervalued asset Step by Step Solution
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