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Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik
Edition 10ISBN: 978-1260575910Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik
Edition 10ISBN: 978-1260575910 Exercise 48
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.
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.
Explanation
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Verified
a.
The amount of total capital is 
after...
Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik
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