Wallace, Simpson and Prince are partners and share income and losses in a 343 ratio. The partnership's capital balances are Wallace, S72,020: Simpson, $83.900: and Prince $66,480. Royal is adoitted to the partnership on July 1 with a 20% equity and Invests $55,400. The partnership would record the admission of Royal into the partnership as Multiple Choice Debt Wallace Capital 596 620, dobit Sumption. Capit. 522.160 debt Prince, Capital 516.620. credt loyal Capital 555.400 Deot 2260. edit Prince Cat 522100 O Debit Cach S6400, Wallace Capital 51.000 de Simon Capit, S4000 obre Cat $3.000, credit Royal Co.400 Debit Cash $55.000 credit Royal Capital ICS CADLA STORD CR20