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Hylands is admitted to the partnership of Reddick & Nole. Prior to her admission, the partnership books show Reddick's capital balance at $180,000 and Nole's at $90,000. Assume Reddick and Nole share profits and losses equally Read the requirements Requirement 1. Compute each partner's equity on the books of the new partnership under the following plans: a. Hylands pays $100,000 for Nole's equity. Hylands pays Nole directly. Begin by computing the partner's equity base for plan a. Hylands pays $100,000 for Nole's equity. Hylands pays Nole directly. (Enter a share for each partner. Complete all answer boxes. For accounts with a $0 balance, make sure to enter "O" in the appropriate cell. Enter negative amounts with a parentheses or minus sign.) Plan A Reddick Nole Hylands Partnership capital before admission of Hylands Effect on capital balance as a result of admission of Hylands Partnership capital after admission of thylands Enter any number in the edit fields and then click Check Answer. 5 parts Clear All remaining i Requirements 1. Compute each partner's equity on the books of the new partnership under the following plans: a. Hylands pays $100,000 for Nole's equity. Hylands pays Nole directly b. Hylands contributes $90,000 to acquire a 1/4 interest in the partnership. c. Hylands contributes $135,000 to acquire a 1/4 interest in the partnership. 2. Journalize the entries for admitting the new partner under plans a, b, and c. Print Done