Required information

The following condensed balance sheet is presented for the partnership of Der, Egan,

and Oprins, who share profits and losses in the ratio of $4$:$3$:$3,$ respectively.

Assume that the partnership decides to admit Snider as a new partner with a $25$

percent interest.

f$.$ The partners agree that total resulting capital should be $$820,000$ and no goodwill should be

recognized. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the

first account field.$)$

Journal entry worksheet

A

Record the admission of the partner given that the total resulting capital is

$$820,000.$