The Struter Partnership has total partners' equity of $380,000, which is made up of Main, Capital, $266,000, and Frist, Capital, $114,000. The partners share net income and loss in a ratio of 74% to Main and 26% to Frist. On November 1 , Adison is admitted to the partnership and given a 20% interest in equity and a 20% share in any income and loss. Prepare journal entries to record the admission of Adison for a 20% interest in the equity and a 20% share in any income and loss under independent assumption. (1) Record the admission of Adison with an investment of $95,000 for a 20% interest in the equity and a 20% share in any income and loss. (2) Record the admission of Adison with an investment of $130,000 for a 20% interest in the equity and a 20% share in any income and loss. (3) Record the admission of Adison with an investment of $65,000 for a 20% interest in the equity and a 20% share in any income and loss. Journal entry worksheet Record the admission of Adison with an investment of $95,000 for a 20% interest in the equity and a 20% share in any income and loss. Note: Enter debits before credits. The Struter Partnership has total partners' equity of $380,000, which is made up of Main, Capital, $266,000, and Frist, Capital, $114,000. The partners share net income and loss in a ratio of 74% to Main and 26% to Frist. On November 1 , Adison is admitted to the partnership and given a 20% interest in equity and a 20% share in any income and loss. Prepare journal entries to record the admission of Adison for a 20% interest in the equity and a 20% share in any income and loss under independent assumption. (1) Record the admission of Adison with an investment of $95,000 for a 20% interest in the equity and a 20% share in any income and loss. (2) Record the admission of Adison with an investment of $130,000 for a 20% interest in the equity and a 20% share in any income and loss. (3) Record the admission of Adison with an investment of $65,000 for a 20% interest in the equity and a 20% share in any income and loss. Journal entry worksheet Record the admission of Adison with an investment of $130,000 for a 20% interest in the equity and a 20% share in any income and loss. Note: Enter debits before credits. The Struter Partnership has total partners' equity of $380,000, which is made up of Main, Capital, $266,000, and Frist, Capital, $114,000. The partners share net income and loss in a ratio of 74% to Main and 26% to Frist. On November 1 , Adison is admitted to the partnership and given a 20% interest in equity and a 20% share in any income and loss. Prepare journal entries to record the admission of Adison for a 20% interest in the equity and a 20% share in any income and loss under independent assumption. (1) Record the admission of Adison with an investment of $95,000 for a 20% interest in the equity and a 20% share in any income and loss. (2) Record the admission of Adison with an investment of $130,000 for a 20% interest in the equity and a 20% share in any income and loss. (3) Record the admission of Adison with an investment of $65,000 for a 20% interest in the equity and a 20% share in any income and loss. Journal entry worksheet Record the admission of Adison with an investment of $65,000 for a 20% interest in the equity and a 20% share in any income and loss. Note: Enter debits before credits