Steve Reese is a well-known interior designer in Fort Worth, Texas. He wants to start his own business and convinces Rob ODonnell, a local merchant, to contribute the capital to form a partnership. On January 1, 2019, ODonnell invests a building worth $102,000 and equipment valued at $40,000 as well as $38,000 in cash. Although Reese makes no tangible contribution to the partnership, he will operate the business and be an equal partner in the beginning capital balances.

To entice ODonnell to join this partnership, Reese draws up the following profit and loss agreement:

• ODonnell will be credited annually with interest equal to 20 percent of the beginning capital balance for the year.
• ODonnell will also have added to his capital account 10 percent of partnership income each year (without regard for the preceding interest figure) or $4,000, whichever is larger. All remaining income is credited to Reese.
• Neither partner is allowed to withdraw funds from the partnership during 2019. Thereafter, each can draw $8,000 annually or 15 percent of the beginning capital balance for the year, whichever is larger.

The partnership reported a net loss of $7,000 during the first year of its operation. On January 1, 2020, Terri Dunn becomes a third partner in this business by contributing $12,000 cash to the partnership. Dunn receives a 20 percent share of the businesss capital. The profit and loss agreement is altered as follows:

• ODonnell is still entitled to (1) interest on his beginning capital balance as well as (2) the share of partnership income just specified.
• Any remaining profit or loss will be split on a 6:4 basis between Reese and Dunn, respectively.

Partnership income for 2020 is reported as $72,000. Each partner withdraws the full amount that is allowed.

On January 1, 2021, Dunn becomes ill and sells her interest in the partnership (with the consent of the other two partners) to Judy Postner. Postner pays $90,000 directly to Dunn. Net income for 2021 is $71,000 with the partners again taking their full drawing allowance.

On January 1, 2022, Postner withdraws from the business for personal reasons. The articles of partnership state that any partner may leave the partnership at any time and is entitled to receive cash in an amount equal to the recorded capital balance at that time plus 10 percent.

1. Prepare journal entries to record the preceding transactions on the assumption that the bonus (or no revaluation) method is used. Drawings need not be recorded, although the balances should be included in the closing entries.

2. Prepare journal entries to record the previous transactions on the assumption that the goodwill (or revaluation) method is used. Drawings need not be recorded, although the balances should be included in the closing entries.

Required A: Please just tell me the answer for O'Donnell Capital and Drawings that is indicated as wrong in the picture.

Required B: Please provide answer for 4~11 !

Please provide answer for requested above only as soon as possible ~! Thank you :)

Required A Required B Prepare journal entries to record the preceding transactions on the assumption that the bonus (or no revaluation) met used. Drawings need not be recorded, although the balances should be included in the closing entries. (If no entry is for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the neares amount.) No Date General Journal Debit Credit 1 01/01/2018 Building Equipment Cash O'Donnell, capital Reese, capital 000 102,000 40.000 38,000 90.000 90.000 2 12/31/2010 Reese, capital 29.000 O'Donnell, capital Income summary 000 22.000 7.000 3 01/01/2020 Cash O'Donnell, capital Reese, capital Dunn, capital sols 12.000 2.500 22.500 37.000 4 12/31/2020 -25 100 % 8,000 O'Donnell, capital Reese, capital Dunn, capital O'Donnell, drawings Reese, drawings 0000 8.000 -25.100 8.000 Required A Required B Prepare journal entries to record the previous transactions on the assumption that the goodwill (or revaluation) method is used. Drawings need not be recorded, although the balances should be included in the closing entries. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Do not round intermediate calculations. Round your final answers to the nearest dollar amount.) Show less No Date General Journal Credit 1 01/01/2019 Building Equipment Cash Goodwill O Donnell, capital Reese, capital OOOOOO Debit 102,000 40,000 38,000 180,000 180.000 180,000 2 12/31/2019 47.000 Reese, capital O Donnell, capital Income summary OOO 40.000 7,000 3 01/01/2020 Cash Goodwill 12,000 78.250 Dunn, capital 88.250 4 12/31/2020 OOO OOOOOO O Donnell, capital Reese, capital Dunn, capital O Donnell, drawings Reese, drawings Dunn, drawings 72,000 $ 7,200 79,200 12/31/2020 72.000 7.2003 79.200 O Donnell, capital Reese, capital Dunn, capital O Donnell, drawings Reese, drawings Dunn, drawings OOOOOO 5 12/31/2020 Income summary O Donnell, capital Reese, capital Dunn, capital OOOO 6 01/01/2021 Goodwill O Donnell, capital Reese, capital Dunn, capital OOOO 7 01/01/2021 90.000 Dunn, capital Postner, capital 90.000 8 12/31/2021 O Donnell, capital Reese, capital Postner, capital O Donnell, drawings Reese, drawings Postner, drawings OOOOOOO 9 12/31/2021 Income summary O Donnell, capital Reese, capital Postner. capital OOOO 10 01/01/2022 Goodwill O Donnell, capital Reese, capital Postner, capital OOOO 11 01/01/2022 Postner, capital Cash lolo Required A Required B Prepare journal entries to record the preceding transactions on the assumption that the bonus (or no revaluation) met used. Drawings need not be recorded, although the balances should be included in the closing entries. (If no entry is for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the neares amount.) No Date General Journal Debit Credit 1 01/01/2018 Building Equipment Cash O'Donnell, capital Reese, capital 000 102,000 40.000 38,000 90.000 90.000 2 12/31/2010 Reese, capital 29.000 O'Donnell, capital Income summary 000 22.000 7.000 3 01/01/2020 Cash O'Donnell, capital Reese, capital Dunn, capital sols 12.000 2.500 22.500 37.000 4 12/31/2020 -25 100 % 8,000 O'Donnell, capital Reese, capital Dunn, capital O'Donnell, drawings Reese, drawings 0000 8.000 -25.100 8.000 Required A Required B Prepare journal entries to record the previous transactions on the assumption that the goodwill (or revaluation) method is used. Drawings need not be recorded, although the balances should be included in the closing entries. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Do not round intermediate calculations. Round your final answers to the nearest dollar amount.) Show less No Date General Journal Credit 1 01/01/2019 Building Equipment Cash Goodwill O Donnell, capital Reese, capital OOOOOO Debit 102,000 40,000 38,000 180,000 180.000 180,000 2 12/31/2019 47.000 Reese, capital O Donnell, capital Income summary OOO 40.000 7,000 3 01/01/2020 Cash Goodwill 12,000 78.250 Dunn, capital 88.250 4 12/31/2020 OOO OOOOOO O Donnell, capital Reese, capital Dunn, capital O Donnell, drawings Reese, drawings Dunn, drawings 72,000 $ 7,200 79,200 12/31/2020 72.000 7.2003 79.200 O Donnell, capital Reese, capital Dunn, capital O Donnell, drawings Reese, drawings Dunn, drawings OOOOOO 5 12/31/2020 Income summary O Donnell, capital Reese, capital Dunn, capital OOOO 6 01/01/2021 Goodwill O Donnell, capital Reese, capital Dunn, capital OOOO 7 01/01/2021 90.000 Dunn, capital Postner, capital 90.000 8 12/31/2021 O Donnell, capital Reese, capital Postner, capital O Donnell, drawings Reese, drawings Postner, drawings OOOOOOO 9 12/31/2021 Income summary O Donnell, capital Reese, capital Postner. capital OOOO 10 01/01/2022 Goodwill O Donnell, capital Reese, capital Postner, capital OOOO 11 01/01/2022 Postner, capital Cash lolo