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Required information [The following information applies to the questions displayed below] Meir, Benson, and Lau are partners and share income and loss in a 145
Required information [The following information applies to the questions displayed below] Meir, Benson, and Lau are partners and share income and loss in a 145 ratio in percents Mer, 10%, Benson, 40% and Lau, 50%). The partnership's capital balances are as follows Mext, $42,000, Benson, $175,000, and Lau, $223,000. Benson decides to withdraw from the partnership 2. Assume that Benson does not retire from the partnership described in Part 1. Instead, Rhode is admitted to the partnership on February 1 with a 25% equity Prepare journal entries to record Rhode's entry into the partnership under each separate assumption: Rhode invests (a) $146,667, (b) $107,067, and (d) $192134. (Do not round imermediete calculations) View transaction list Journal entry worksheet 2 3 Record the admission of Rhode with an investment of $146,067 for a 25% interest in the equity,
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