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Zeller Acker and Benton are partners with capital balances as follows Zeller $84,000 Acker $6900 and Benton $147000 The partners share incomes and losses in a 325 ratios

Zeller, Acker, and Benton are partners with capital balances as follows: Zeller, $84,000; Acker, $69,000; and Benton, $147,000. The partners share incomes and losses in a 3:2:5 ratios. Dent is admitted to the partnership on May 1, 2014, with a 25% equity. Prepare General Journal entries to record the entry of Dent into the partnership under each of the following unrelated assumptions: a. Dent invests $100,000. b. Dent invests $72,500. c. Dent invests $131,000.

Apr 05 2020 View more View Less

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