Keri & Nick Consulting’s partners’ equity accounts reflected the following balances on August 31, 2023:

Lee and Kalpakian share profit/losses in a 2:3 ratio, respectively. On September 1, 2023, Liam Court is admitted to the partnership with a cash investment of $105,000.

Required

Prepare the journal entry to record the admission of Liam under each of the following unrelated assumptions, where he is given:

a. A 30% interest in equity

b. A 20% interest in equity

c. A 50% interest in equity

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Keri Lee, Capital....... Nick Kalpakian, Capital..... ......$ 50,000 ......... 195,000