Question
X, Y and Z are three partners in partnerships; on 1/1/2020 you got the following information capital Profit loss ratio X100,000 50% Y 80,000
X, Y and Z are three partners in partnerships; on 1/1/2020 you got the following information capital Profit loss ratio X100,000 50% Y 80,000 40% Z 20,000 10% On the same date they agree to admit W on partnerships by investing cash $ 60,000 by giving him 20% capital interest and profits Instructions By using goodwill method record the journal entries to admit W by using A) Goodwill methods B) Bonus methods
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Advanced Accounting
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
13th edition
134472144, 978-0134472140
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