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Required Information [The following Information applies to the questions displayed below.] Meir, Benson, and Lau...

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Accounting

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Required Information [The following Information applies to the questions displayed below.] Meir, Benson, and Lau are partners and share Income and loss in a 2:3:5 ratio (In percents: Melr, 20\%; Benson, 30\%; and Lau, 50\%). The partnership's capital balances are as follows: Meir, $68,000; Benson, $104,000; and Lau, $178,000. Benson decides to withdraw from the partnership. 2. Assume that Benson does not retire from the partnership described In Part 1. Instead, Rhode Is admitted to the partnership on February 1 with a 25% equity. Prepare journal entrles to record Rhode's entry Into the partnership under each separate assumption: Rhode Invests (a) $116,667;(b)$85,167; and (c) \$152,834. (Do not round Intermedlate calculatlons.) 1 Record the admission of Rhode with an investment of $116,667 for a 25% interest in the equity. 2 Record the admission of Rhode with an investment of $85,167 for a 25% interest in the equity. 3 Record the admission of Rhode with an investment of $152,834 for a 25% interest in the equity. Note: = journal entry has been entered

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