on June 12023 Indian Aisha Adams formed a partnership to open a glutton free commercial...

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Accounting

on June 12023 Indian Aisha Adams formed a partnership to open a glutton free commercial Bakery contributing to 89000 cash and 37800 of equipment respectively the partnership also assumed responsibility for a 49,000 note payable associated with the equipment the partner agreed to share profit as follow boys to receive an annual salary lines of 15900 both have to receive an annual interest of 10% of their original Captain investment and any remaining profit or losses to be shared 40/60 to bow and adaAdam respectivdely on nNovember 20,2023 adams withdrew cash of 109000 at the end may 31,2024 the oncoincome summary account had a credit balance of 470000 on june 2024 peter williWilliams invested 129000 qnd was admitted to the partnership for a 20% interest in equity
record the journal entry for closing of profit to capital
record the admiisssions of williams for 20% interest
and the calculation of each partner capital after june 12024

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