[The following information applies to the questions displayed below.]

Debra and Merina sell electronic equipment and supplies through their partnership. They wish to expand their computer lines and decide to admit Wayne to the partnership. Debras capital is $190,000, Merinas capital is $152,000, and they share income in a ratio of 3:2, respectively.

6.

value: 10.00 points

Required information

Required:

Record Waynes admission for each of the following independent situations:

a.

Wayne directly purchases half of Merinas investment in the partnership for $98,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b.

Wayne invests the amount needed to give him a one-third interest in the partnerships capital if no goodwill or bonus is recorded. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

e.

Wayne directly purchases a 25 percent interest by paying Debra $81,000 and Merina $60,000. The land account is increased before Wayne is admitted. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

f.	Wayne invests $68,000 for a 20 percent interest in the total capital of $410,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)