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  3. 4. moe, larry and curly have capital accounts in t

4. Moe, Larry and Curly have capital accounts in the partnership of $60,000, $36,000, and...

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Accounting

4. Moe, Larry and Curly have capital accounts in the partnership of $60,000, $36,000, and $14,000, and share income and losses by 5:4;1. The partnership had agreed to admit Joe as a partner under the following independent assumptions. Prepare journal entries for each.

a) Joe pays Curly $16,000 for 50% of Curly's interest.

b) Joe pays Larry $15,000 for one third of Larry's interest

c) Joe invests $60,000 into business for a 1.3 interest.

d) Joe invests $40,000 into business for a 30% interest.

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