3C Co. capital balances are Chu 30,000, Cho 25,000, and Chow 22,000 (amounts in thousands). The partners
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3C Co. capital balances are Chu ¥30,000, Cho ¥25,000, and Chow ¥22,000 (amounts in thousands). The partners share income equally. Cheng is admitted to the firm by purchasing one-half of Chow’s interest for ¥13,000. Journalize the admission of Cheng to the partnership.
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Related Book For 
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
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