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Pls answer the questions with the explanation Debit less for $3 B) O Credit Gain of $12,000 and Debit the accumate $12,000amd crean eguipment tor
Pls answer the questions with the explanation
Debit less for $3 B) O Credit Gain of $12,000 and Debit the accumate $12,000amd crean eguipment tor $13,oo0 ) H&M and L, a of the existing a $42.000 partnership, is considering admitting K as a new partner. On 7/31/18 tve capihal 1 Capital $126,000 Profit and loss SSN Journalize the following transactions: 18) Assume K pays L partner $ 168,000 cash to buy his interest A) Debit L Capital for $126,000 and Credit K Capital for $126,000 8) Debit L Capital for $168,000 and Credit K Capital for $168,00o. C) Debit L. Capital for $168,000, Credit K Capital $126,000 and the old partner get bosus D) Debit Cash for 5168,000 and Credit K Capital 5126,000 and accounts payable 542,000. 19) K pays L $84,000 to the partnership acquiring 1/4 interest. A) Debit Cash $84,000 and Credit K Capital for $84,000 B) Debit Cash 590,000and Credit K Capital for $90,000 C) Debit Cash $84,000 and Credit K Capital for $75,000 D) Debit Cash $84,000 and Credit K Capital 545,000 the different is bonus to old partners. 20) K pays L $84,000 to the partnership acquiring 1/6 interest. A) Debit Cash 584,000 and Credit K Capital for $56,000 the balance is bonus to old partners. B) Debit Cash 590,000and Credit K Capital for $84,000 C) Debit Cash S84,000 and Credit K Capital for $56,000 the balance goes to account payable. D) Debit Cash S84,000 and Credit K Capital for $51,000 the balance is bonus to old partners. 21) K pays L $84,000 to the partnership acquiring 1/3 interest. A) Debit Cash $84,000 and Credit K Capital for $112,000 the old partners paid the bonus B) Debit Cash S112,00 and Crdit K Capital for S112,000 A) Debit Cash $84,000 and Credit K Capital for $95,000 the old partners paid the bonus A) Debit Cash $84,000 and Credit K Capital for $100,000 the old partners paid the bonu Step by Step Solution
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