Advanced Accounting 12th Edition by Joe Ben Hoyle,Thomas Schaefer , Timothy Doupnik

تمرين 22

The Distance Plus partnership has the following capital balances at the beginning of the current year:

Each of the following questions should be viewed independently.
a. If Sergio invests $100,000 in cash in the business for a 25 percent interest, what journal entry is recorded Assume that the bonus method isused.
b. If Sergio invests $60.000 in cash in the business for a 25 percent interest, what journal entry is recorded Assume that the bonus method is used.
c. If Sergio invests $72,000 in cash in the business for a 25 percent interest, what journal entry is recorded Assume that the goodwill method is used.