Peary has $90,500 capital and Haymer has $62,500 capital in the Peary & Haymer partnership. Peary...

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Peary has $90,500 capital and Haymer has $62,500 capital in the Peary & Haymer partnership. Peary and Haymer share profits and losses equally. Gavin Price contributes cash of $51,000 to acquire a 1/4 interest in the new partnership. Requirements 1. Calculate Price's capital in the new partnership. 2. Journalize the partnership's receipt of the $51,000 from Price. Requirement 1. Calculate Price's capital in the new partnership: (Leave unused cells blank. Do not enter a "0" for a zero balance.) Partnership capital before admission of new partner Contribution of new partner Partnership capital after admission of new partner Capital of new partner Bonus to Peary has $90,500 capital and Haymer has $62,500 capital in the Peary & Haymer partnership. Peary and Haymer share profits and losses equally. Gavin Price contributes cash of $51,000 to acquire a 1/4 interest in the new partnership. Requirements 1. Calculate Price's capital in the new partnership. 2. Journalize the partnership's receipt of the $51,000 from Price. Requirement 1. Calculate Price's capital in the new partnership: (Leave unused cells blank. Do not enter a "0" for a zero balance.) Partnership capital before admission of new partner Contribution of new partner Partnership capital after admission of new partner Capital of new partner Bonus to

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Requirement 1 Calculate Prices capital in the new partnership 1 Partnership Capital before admission ... View the full answer