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The Struter Partnership has total partners' equity of $560,000, which is made up of Main Capital, $392,000, and Frist, Capital $168,000 The partners share net
The Struter Partnership has total partners' equity of $560,000, which is made up of Main Capital, $392,000, and Frist, Capital $168,000 The partners share net income and loss in a ratio of 72% to Main and 28% 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 $140,000 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 $175,000 for a 20% interest in the equity and a 20%"hare in any income (3) Record the admission of Adison with an investment of $110.000 for a 20% interest in the equity and a 20% share in any income and loss and loss View transaction list Journal entry worksheet A B ? Record the admission of Adison with an investment of $140,000 for a 20% interest in the equity and a 20% share in any income and loss. Nintentar white
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