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Problem 12-4A At April 30, partners' capital balances in PDL Company are G. Donley $52,000, C. Lamar $48,000, and J. Pinkston $18,000. The income sharing

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Problem 12-4A At April 30, partners' capital balances in PDL Company are G. Donley $52,000, C. Lamar $48,000, and J. Pinkston $18,000. The income sharing ratios are 5 :4:1, respectively. On May 1, the POLT Company is formed by admitting J. Terrell to the firm as a partner indent manually. Round answers to 0 decimal places,e.g.5,275 (1) Terrell purchases 50% of Pinkston's ownership interest by paying Pinkston $16,000 in cash. (2) Terrell purchases 33,3% of Lamar's (3) Terrell invests $62,000 for a 30% ownership interest, and bonuses are given to the old partners. (4) Terrell invests $42,000 for a 30% ownership interest, which includes a bonus to the new partner interest by paying Lamar $15,000 in cash

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