Lie, Cheat and Steele are a successful Law Practice in Washington D$.$C$.$

On January $1$st $2023$ they have the following balance sheet:

Cash $50000$ wages payable $30000$

accounts rec $200,000$

equipment $100,000$ Lie Capital $200,000$

a$/$d equipment $20000$ Cheat Capital $200,000$

land $500,000$ Steele Capital $400,000$

total assets $830,000$

The partners share profits and losses equally

On January $2$nd$,$ Immacrook offered $$800,000$ to become a $1/4$ partner in the firm $($partners will continue to share profits$/$losses equally$)$

and the partners have agreed. The $$800,000$ will go into the partnership and not to individual partners.

REQUIRED; A$)$ Make the journal entry to bring Immacrook into the partnership if they use the bonus method

B$)$ Make the journal entry to bring Immacrook into the partnership if they use the goodwill method