partnership dissolution

1) Assume that the AB Partnership had the following data on the date that a new partner is to be admitted. Cash 1,000,000 Liabilities 100,000 A, Capital 450,000 B, Capital 450,000 C is admitted with a payment to A of P200,000 and B of P120,000 for a 1/3 interest in the partnership with a capitalization of P900.000. Required: Compute the new balances of the partners' capital accounts and journal entries. 2) DE Partnership had the following data on the date that a new partner is to be admitted. Cash Other Assets Total assets Liabilities D, Capital 1,000,000 E, Capital 1,000,000 Total Liabilities and Equity 1,000,000 1,300,000 2.300,000 300,000 2,000,000 2.300,000 Incoming cash investment of F 1,000,000 Agreed interest of F (equal to his investment) 1,000,000 Required: Compute the new balances of the partners' capital and journal entries