$(1)$ The Prince$-$mobbies pertherthip has the following capital account beinces on January i$,2024.$

$\backslash$table$[[$Princt$,$ Capital,i $76,904],[$Robbin$,$ Capital,$60,460]]$

Prince is allocited $80$ perceet of all protiss and losses with the remaining $20$ percent assigned is Rabbirs aher irternetr of io percent is given to esch perther besed on begivning capitel balences.

On Jenutry $2.2024.$ Jeffrey invests $537000$ cash for $320$ pertent interest in the partherihip. This transaction is recorded income of $$450000.$

Repolieed:

B$.$ Prepare the journal entey to record Jeflerys enterance into the partership on January $2.2024.$

b$.$ Prepare a schedule showing how the $2024$ net income allocation to the partners should be defernined.

Naphired a

Note: It ne entery is required for a bransaction$/$event$,$ select $\text{'}$No journal entry reoulinet' in the firt brourt lied.

Journal entry worksheet

$1$

$2$

$3$

Hecond the every for goodmill allocation, burng the admision of a new partner:

Nete fiter dens lelors oveis.

$\backslash$table$[[$fi$.{?}_{\text{a}\text{n}\text{d}\text{u}\text{t}\text{e}},$Atumat Tris,Det,Pratir$],[8,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

Repuirest $4$

Bepured $8$

Prepert a sctredile ahowing how the $2024$ net income alocation to the patiers showld be determined. Noter Loss amourts should be indicated with a minut wigh.

$\backslash$table$[[,$Preve,Rotient,$!,$Tusel$],[$tuet inoper,,,,$],[$Interser$,,,,],[,,,,],[$Rencerder Esalacale,,,,$],[$Hoter atovation,,,,$]]$

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