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Please solve the sum correctly ... And completely. Required information The following information applies to the questions displayed below] Meir, Benson, and Lau are partners
Please solve the sum correctly ... And completely.
Required information The following information applies to the questions displayed below] Meir, Benson, and Lau are partners and share income and los 5 in a 3.25 ratio (in percents: Meir, 30\%; Bedron, 20\%; and Lau, 50\%). The partnership's capital balances are as follows. Meir, $127,000; Benson, 585,000 ; and Lau, $218,000, Benson decides to withdrow from the partnership. 2. Assume that Benson does not retire from the porthership described in Part 1 . Instead, Rhode is admitted to the partnership on February 1 with a 25% equity. Prepare journal entries to record Rhode's entry into the partnership under each seporate assumption. Rhode invests (o) $143,333; (b) $104,633, and ( d$187,766. (Do not round intermedinte colculations) Journal entry worksheet 3 Record the admission of Rhode with an investment of $143,333 for a 25% interest in the equity. Notei Enter debats before credien. 2. Assume that Benson does not retire from the partnership described in Part 1. Instead, Rhode is admitted to the partnership February 1 with a 25% equity. Prepare joumal entries to record Rhode's entry into the partnership under each separate assump Rhode invests (a) \$143,333; (b) \$104,633; and (c) \$187,766. (Do not round intermediate calculations.) Journal entry worksheet Record the admission of Rhode with an investment of $104,633 for a 25% interest in the equity. Notet Enter debits before credits. 2. Assume that Benson does not retire from the partnership described in Part 1. Instead, Rhode is admitted to the partnership on February 1 with a 25% equity. Prepare journal entries to record Rhode's entry into the partnership under each separate assumptio Rhode invests (a) \$143,333, (b) \$104,633; and (c) \$187,766. (Do not round intermediate calculations.) Journal entry worksheet (1) Record the admission of Rhode with an investment of $187,766 for a 25% interest in the equity. Note: Enter debits before credits Step by Step Solution
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