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Instructions Prepare the journal entry to record the admission of Ryder under each of the following assumptions: Ryder invests $100,000 for a 25% ownership interest.

Instructions

Prepare the journal entry to record the admission of Ryder under each of the following assumptions:

Ryder invests $100,000 for a 25% ownership interest.

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5. Tim Tarrant and Jim Edmonds share partnership profit on a 3:2 basis. They have capital balances of $170,000 and $90,000, respectively, when JT Ryder is admitted to the partnership. Instructions Prepare the journal entry to record the admission of Ryder under each of the following assumptions: Ryder invests $100,000 for a 25% ownership interest. JOURNAL ENTRY- 1 MARKS DISCRIPTION DEBIT CREDIT a. Investment by new Partner- 2 MARKS Total capital of existing partners

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