Problem 12-4A At April 30, partners capital balances in PDL Company are G. Donley $53,400, C. Lamar $45,000, and J. Pinkston $20,600. The income sharing ratios are 5 : 4 : 1, respectively. On May 1, the PDLT Company is formed by admitting J. Terrell to the firm as a partner. Partially correct answer. Your answer is partially correct. Try again. Journalize the admission of Terrell under each of the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.) (1) Terrell purchases 50% of Pinkstons ownership interest by paying Pinkston $16,400 in cash. (2) Terrell purchases 331/3% of Lamars ownership interest by paying Lamar $15,800 in cash. (3) Terrell invests $60,800 for a 30% ownership interest, and bonuses are given to the old partners. (4) Terrell invests $41,000 for a 30% ownership interest, which includes a bonus to the new partner.

No. Account Titles and Explanation 1. TJ. Pinkston, Capital Debit Credit 10300 J. Terrell, Capital 10300 15000 J. Terrell, Capital 15000 3. Tcash 60800 J. Terrell, Capital G. Donley, Capital C. Lamar, Capital J. Pinkston, Capital 35700 12550 10040 2510