Arun and Margot want to admit Tammy as a third partner for their partnership. Their capital balances prior to Tammy's admission are $50,000 each. Question Content Area Prepare a schedule showing how...




Arun and Margot want to admit Tammy as a third partner for their partnership. Their capital balances prior to Tammy's admission are $50,000 each.








Question Content Area



Prepare a schedule showing how the bonus should be divided among the three, assuming the profit or loss agreement will be 1:3 once Tammy has been admitted and her contribution is:


If an amount is zero, enter "0".



A. $5,000

























Total capital of Arun and Margot$fill in the blank a9a449fdc04f047_1
Investment by new partner, Tammyfill in the blank a9a449fdc04f047_2
Total capital of new partnership$fill in the blank a9a449fdc04f047_3
Tammy's capital credit$fill in the blank a9a449fdc04f047_4
Total bonus to Arun and Margot$fill in the blank a9a449fdc04f047_5


















Allocation of bonus to Arun and Margot:
Arun$fill in the blank a9a449fdc04f047_6
Margot$fill in the blank a9a449fdc04f047_7


B. $62,000

























Total capital of Arun and Margot$fill in the blank a9a449fdc04f047_8
Investment by new partner, Tammyfill in the blank a9a449fdc04f047_9
Total capital of new partnership$fill in the blank a9a449fdc04f047_10
Tammy's capital credit$fill in the blank a9a449fdc04f047_11
Total bonus to Arun and Margot$fill in the blank a9a449fdc04f047_12


















Allocation of bonus to Arun and Margot:
Arun$fill in the blank a9a449fdc04f047_13
Margot$fill in the blank a9a449fdc04f047_14


C. $50,000

























Total capital of Arun and Margot$fill in the blank a9a449fdc04f047_15
Investment by new partner, Tammyfill in the blank a9a449fdc04f047_16
Total capital of new partnership$fill in the blank a9a449fdc04f047_17
Tammy's capital credit$fill in the blank a9a449fdc04f047_18
Total bonus to Arun and Margot$fill in the blank a9a449fdc04f047_19











Question Content Area



Prepare the journal entries to show the resulting each of the three partners' capital accounts. If an amount box does not require an entry, leave it blank.




































































A.

- Select -- Select -


- Select -- Select -


- Select -- Select -


- Select -- Select -
B.

- Select -- Select -


- Select -- Select -


- Select -- Select -


- Select -- Select -
C.

- Select -- Select -


- Select -- Select -




Jun 11, 2022
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