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Wine and Yates are partners whose capital balances are $150,000 and $50,000 and who share profits 3:2. Due to a shortage of cash. Wine and

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Wine and Yates are partners whose capital balances are $150,000 and $50,000 and who share profits 3:2. Due to a shortage of cash. Wine and Yates agree to admit Zale to the firm. Prepare the journal entries required to record Zale's admission under each of the following assumptions: Zale invests $75,000 for a 1/4 interest. The total firm capital is to be $275,000. Zale invests $80,000 for a 1 interest. Goodwill is to be recorded. Zale invests $42, 500 for a 1/5 interest. Goodwill is to be recorded. Zale purchases a 1/4 interest in the firm, with 1/4 of the capital of each old partner transferred to the account of the new partner. Zale pays the partners cash of $65,000, which they divide between themselves. Tyler. Eddy. & Carter are partners with capital balances of $90,000, $225,000, and $145,000, respectively. Profits and losses are shared in a 5:2:3 ratio. Eddy decided to withdraw and the partnership revalued its assets. The value of inventory was decreased by $20,000 and the value of land was increased by $45,000. Tyler and Carter then agreed to pay Eddy $210,000 for his withdrawal from the partnership Prepare the journal entry to record Eddy's withdrawal under the bonus method. full goodwill method

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