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  3. s. pagan and t. tabor share income on a 6:4 basis.

S. Pagan and T. Tabor share income on a 6:4 basis. They have capital balances...

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Accounting

S. Pagan and T. Tabor share income on a 6:4 basis. They have capital balances of $105,000 and $58,000, respectively, when W. Wolford
is admitted to the partnership.
Prepare the journal entry to record the admission of W. Wolford under each of the following assumptions.
(a)
Investment of $89,000 cash for a 30% ownership interest with bonuses to the existing partners. (Credit account titles are
automatically indented when amount is entered. Do not indent manually.)
Account Titles and Explanation
Attempts: 0 of 1 used
(b)
Investment of $60,000 cash for a 30% ownership interest with a bonus to the new partner. (Credit account titles are automatically
indented when amount is entered. Do not indent manually.)
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