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At April 30, partners' capital balances in Cullumber Company are G. Donley $55,120, C. Lamar...

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Accounting

At April 30, partners' capital balances in Cullumber Company are G. Donley $55,120, C. Lamar $50,880, and J. Pinkston $19,080. The income sharing ratios are 5:4:1, respectively. On May 1, the PDLT Company is formed by admitting J. Terrell to the firm as a partner.
(b)
Your answer is partially correct.
Lamar's capital balance is $33,920 after admitting Terrell to the partnership by investment. If Lamar's ownership interest is 20% of total partnership capital, what were (1) Terrell's cash investment and (2) the bonus to the new partner?
(1) Terrell's cash investment $
(2) Bonus to new partner
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