After a few months, the partnership decides to add additional partner. The partner is Elijah...
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Accounting
After a few months, the partnership decides to add additional partner. The partner is Elijah and he is an expert so they give him a 2 for 1 contribution for owners capital. Elijah gives $3,100.00 into the partnership.
a.What must the partnership do when they added Elijah as a partner?
b. The partnership must make a new Statement of Partners Equity. What does it look like?
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