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On April 1, 2019, Guy Comeau and Amelie Lavoi formed a partnership in Ontario.

	Comeau		Lavoi
Contribution	$286,100 cash		$218,000 land
			$132,500 building
Profit sharing	$174,700 salary allowance
	5% of original capital investments		5% of original capital investments
	40% of remaining		60% of remaining
Cash withdrawal March 20, 2020			$129,800

Net Income during the year was $560,000 and was in the Income Summary account. On April 1, 2020 Travis Roberts invested $146,300 and was admitted to the partnership for a 20% interest in equity. Required: 1. Prepare journal entries for the following dates.

Pls help explain in detail how to calculate . Thank you

c. March 31, 2020 View transaction list Journal entry worksheet Record the closing of profit to capital. Note: Enter debits before credits. Date General Journal Debit Credit 560,000 Mar 31, 2020 Income summary Guy Comeau, capital Amelie Lavoi, capital 330,393 229,607 Record entry Clear entry View general journal d. April 1, 2020 View transaction list Journal entry worksheet Record the admission of Wilems for a 20% interest. Note: Enter debits before credits. Date General Journal Debit Credit 146,300 April 01, 2020 Cash Amelie Lavoi, capital Guy Comeau, capital Travis Roberts, capital Record entry Clear entry View general journal 2. Calculate the balance in each partner's capital account immediately after the April 1, 2020, entry. $ 616,493 Comeau, capital Lavoi, capital Roberts, capital

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