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Problem 1 - Metro Pizza (a newly formed partnership) has asked you to update (create) their books. They also agreed that each partner would start
Problem 1 - Metro Pizza (a newly formed partnership) has asked you to update (create) their books. They also agreed that each partner would start with an equal amount of capital. You have determined that the Bonus Method should be employed. Parker Sharma Useh Total Cash Equipment Building Land Accounts Payable Mortgage Payable $10,000 $55,000 %0 $0 $6,000 $0 $30,000 SO $50,000 $25,000 $9,000 $20,000 $0 $0 $0 $0 $O $0 $40,000 $55,000 $50,000 $25,000 $15,000 $20,000 (1) Please make the necessary partnership formation entry to record the above and the appropriate partner capital accounts. Debit Credit Account
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