Question
Talent, a local HR Consulting firm, has total partners' equity of $770,000which is made up of Hall, Capital $605,000 and Reynolds, Capital165,000. The partners share
Talent, a local HR Consulting firm, has total partners' equity of $770,000which is made up of Hall, Capital \$605,000 and Reynolds, Capital165,000. The partners share profit/(losses) a ratio of 75% to Hall and 25% to ReynoldsOn July 1, Morris admitted to the partnership and given a 20% interest equity. Required: Prepare the journal entry to record the admission of Morris under each of the following unrelated assumptions, in which Morris Invest cash of a. $192,500
Talent, a local HR consulting firm, has total partners' equity of $770,000, which is made up of Hall, Capital, $605,000, and Reynolds. Capital, $165,000. The partners share profit/(losses) in a ratio of 75% to Hall and 25% to Reynolds. On July 1, Morris is admitted to the partnership and given a 20% Interest in equity. Required: Prepare the journal entry to record the admission of Morris under each of the following unrelated assumptions, in which Morris Invests cash of a. $192.500 View transaction list Journal entry worksheet
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CyRM Mastering The Management Of Cybersecurity Internal Audit And IT Audit
Authors: David X Martin
1st Edition
0367757850, 978-0367757854
