Investment in a Partnership: Bonus to New Partner A, B , & C, are Partners in the
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Question:
Investment in a Partnership: Bonus to New Partner
A, B , & C, are Partners in the ABC Partnership and share Profits and Losses in the ratio of 1: 2: 3.
Their Capital account balances are :
A Cap $50,000
B Cap 35,000
C Cap 25,000
Mr. D, a Whizkid on Wall Street, is invited to join the partnership and he contributes $10,000 for a
30% interest in the Partnership.
REQUIRED: Record the Journal Entry for the Admission of Mr. D.
Posted Date: