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Mars Investments acquired $150,000 of Pluto Corp. 8% boods at their face amount on September 1, 2014. The bonds pay interest on September 1 and
Mars Investments acquired $150,000 of Pluto Corp. 8% boods at their face amount on September 1, 2014. The bonds pay interest on September 1 and March 1. On March 1, 2015, Mars sold $75,000 of Pluto Corp. bonds at 102 Journalize the entries to record the following: . The initial seguition of the Pluto Corp. bands on September 1, 2014 b. The adjusting entry for four months of accrued interest and on the Pluto Corp.bonds on December 2014 The receipt ofsemiannual interest on March 1, 2015 d. The sale of $75.000 of Pluto Corp. bonds on March 1, 2015, at 102 The Struter Partnership has total partners' equity of $600,000, which is made up of Main, Capital $420.000, and Frist, Capital $180,000. The partners share net income and loss in a ratio of 72% to Main and 28% to Frist On November 1, Adison is admitted to the partnership and given a 20% interest in equity and a 20% share in any income and loss. Prepare journal entries to record the admission of Adison for a 20% interest in the equity and a 20% share in any income and loss under independent assumption (0) Record the admission of Adison with an investment of $150.000 for a 20% interest in the equity and a 20% share in any income and loss (2) Record the admission of Adison with an investment of $185,000 for a 20% interest in the equity and a 20share in any income and loss (3) Record the admission of Adison with an investment of $120,000 for a 20% interest in the equity and a 20% share in any income and loss
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