P12-34B

capiral atoment of panners oihdrw 510.000 from the part the year lective a P12 4 Accoumting for the admisios of a sew partaer Thompon as a new pareses On July 31, 2076, the capital accounts nf ceksting partners and cheir protie-and hus-sharing ratio is as follows he the Profit-and-loss-Sharing Capital 52.500 105,000 L157 50 % 2 The 20% 25% 55% Herry 3. The p i. The par Requiremenes Juurnalize de admision ofThompson as PIZ-36B Accou The partners utive parner on July 31 for each o.t fallowing independene sitaatione I. Thompson pays Lawrence $210,000 cash to purchase Lavwrence's intee 2. Thompscn coeerbues $105,000 to che parcnership, acquiring s1/ inseret Eran, 10%; o analyze th balance shees che business che buslness. the business 3. Thompoon contibures $105,000 to the partnership, acquiring a /G inserest in 4. Thompson concribates $105,000 to the partnenship, acquiring a 1/3 interest in