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In Big Easy Co., capital balances are Adrienne $65,000 and Dino $85,000. The partners share income/loss 60% and 40% respectively. Javier is admitted to
In Big Easy Co., capital balances are Adrienne $65,000 and Dino $85,000. The partners share income/loss 60% and 40% respectively. Javier is admitted to the firm with a 40% interest by an investment of cash of $90,000. Provide calculation of Javier's Capital account, and the bonus or deficiency to Adrienne and Dino's capital accounts. Lastly, Journalize the admission of Javier. Javier's admission: Date Account Title Debit Credit
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Introduction to Governmental and Not for Profit Accounting
Authors: Martin Ives, Terry K. Patton, Suesan R. Patton
7th edition
9780132776073, 132776014, 978-0132776011
