Question
Pena limited liability company (LLC) has two members, Sophia and Maria, who share net income and loss equally Total equity of the business is
Pena limited liability company (LLC) has two members, Sophia and Maria, who share net income and loss equally Total equity of the business is $108,000, which is made up of Sophia, Member Equity, of $64,000, and Maria, Member Equity, of $44,000 During the year, Juan invests $34,000 and is admitted to Pena limited liability company (LLC) with a 20% interest in equity and a 20% share in any income and loss. Prepare the entry to record the admission of Juan to the limited liability company (LLC), using the "Juan, Member Equity account A No Transaction 1 Answer is not complete. General Journal Debit Credit Cash Mania, Member equity Sophia, Member equity Juan, Member equity Juan, Member equity 00000 34,000 800 20,800 21,600
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