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Problem 11-5B Partnership entries, profit allocation, admission of a partner [C LO, 3,4 CHECK FIGURES: c. Cr. Amrick: $259,860; Cr. Balas: $150,140; d. Dr Balas:
Problem 11-5B Partnership entries, profit allocation, admission of a partner [C LO, 3,4 CHECK FIGURES: c. Cr. Amrick: $259,860; Cr. Balas: $150,140; d. Dr Balas: $50,520 On July 1. 2022, Alleya Amrick and Breanne Balas formed a partnership to make crafts and sell them online. Net lncome during the year was $410,000 and was in the Income Summary account. On July I. 2023 Calla Cameron invested $123,000 and was admitted to the partnership for a 20% interest in equity Required 1. Prepare journal entries for the following dates: a. July 1, 2022 b. June 20.2023 1. Prepare fournal entries for the following dates: a. July I, 2022 b. June 20,2023 c. June 30.2023 d. July 1.2023
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