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To record admission of partner D as follows: A, Capital 200 000 B, Capital 180 000 C, Capital 190 000 D, Capital 50 000 Total
To record admission of partner D as follows: A, Capital 200 000 B, Capital 180 000 C, Capital 190 000 D, Capital 50 000 Total (i) 620 000 Partner D capital (1)/4 156,000 D, Capital as per above 155 000 Fair value of other assets (50,000) Difference (ii) 105 000 Bonus paid by partners A, B, C (i1)/3 35,000 31 C, Capital 155,000 Cash A, Capital 6,000 B, Capital 6,000 D, Capital 6,000 To record withdrawal of partner C as follows: C, Capital at end of year (given) 190 000 Less bonus paid by C to D as per above (35,000)
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