A partnership recorded the following journal entry: $$\begin{array} { | l | l | l | }
\hline \text { Cash } & 60,000 & \
\hline \text { B. Founder, Capital } & 10,000 & \
\hline \text { R. Aqui, Capital } & 10,000 & \
\hline \text { H. Joiner, Capital } & & 80,000 \
\hline
\end{array}$$ This entry reflects:

Question

A partnership recorded the following journal entry: $$\begin{array} { | l | l | l | } 
\hline \text { Cash } & 60,000 & \
\hline \text { B. Founder, Capital } & 10,000 & \
\hline \text { R. Aqui, Capital } & 10,000 & \
\hline \text { H. Joiner, Capital } & & 80,000 \
\hline
\end{array}$$ This entry reflects:

Quizplus · Accepted Answer

The entry shows a new partner investing $60,000 in cash, with $80,000 credited to H. Joiner's capital account, indicating a $20,000 bonus given to the new partner.

A Partnership Recorded the Following Journal Entry This Entry Reflects: A) Withdrawal of a Partner Who Pays

A Partnership Recorded the Following Journal Entry This Entry Reflects:
A) Withdrawal of a Partner Who Pays