Rahal and Saliba are partners who share income in a 2:3 ratio. Total partnership capital is $382,500. Touma is to be admitted as a new partner, investing $120,000 in the partnership and receiving a 25% interest in capital and income.
Required
Record Touma's admission, using:
a. The bonus method
b. The goodwill method

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The Answer of Rahal and Saliba are partners who share income in a 2:3 ratio. Total partnership capital is $382,500. Touma is to be admitted as a new partner, investing $120,000 in the partnership and receiving a 25% interest in capital and income.
Required
Record Touma's admission, using:
a. The bonus method
b. The goodwill method

Rahal and Saliba Are Partners Who Share Income in a 2:3