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Zow contributes S20,000 to the partnership in exchange for a 20 percent interest in profits, losses, and capital (3) 3-b(Bonus) Calculation of Bonus: 3-a(G/W) Calculation

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Zow contributes S20,000 to the partnership in exchange for a 20 percent interest in profits, losses, and capital (3) 3-b(Bonus) Calculation of Bonus: 3-a(G/W) Calculation of Goodwill: V. Two long-time partners, Zap and Zing, finally decided that their partnership did not have s a consequence, they are considering the enough zip to compete in the modern world. A admission of Zow to the partnership. Prior to Zow's entry, the capital interests of Zap and Zing are $24,000 and $36,000, respectively. They share profits and losses in a 30:70 ratio. Several alternative plans for admitting Zow are being considered, each of which is described below: REQUIRED: For each of the two alternatives (b) present the journal entries to reflect the bonus method of recording the events; and (a) present the journal entries to reflect the goodwill method of recording the events. Label your answers 1-b; 1-a; 2-b; 2-a; 3-b; 3-a. (1) Zow contributes $15,000 to the partnership in exchange for a 25% interest in capital

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