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QUESTION

Problem 12-4A At April 30, partners' capital balances in PDL Company are: Donley $47,300, C. Lamar $46,200, and J. Pinkston $17,200. The income...

I have two similar problems that I will be needing help with and I have also attached the full question in a word document but here is a brief description as follows:

Journalize the admission of Terrell under each of the following independent assumptions.

(1) Terrell purchases 50% of Pinkston's ownership interest by paying Pinkston $15,110 in cash.

(2) Terrell purchases 331/3% of Lamar's ownership interest by paying Lamar $14,630 in cash.

(3) Terrell invests $64,000 for a 30% for a ownership interest, and bonuses are given to the old partners.

(4) Terrell invests $41,700 for a 30% ownership interest, which includes a bonus to the new partner.

any help is greatly appreciated.

Thanks

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