Any ideas on how to complete? Adding a new partner, Retirement of a partner, and Liquidation of a Partnership. I need help please! Adding a new partner

Problem 8: Eggs and Bacon are partners with capital balances of $40,000 and $23,000 respectively. Grits wishes to join the partnership with a 10% interest. How much should Grits contribute to the partnership to have a 10% interest after his contribution? Record the transaction.

Problem 9: Eggs and Bacon are partners with capital balances of $40,000 and $23,000 respectively. The partners agree that Grits can join the partnership by purchasing a 10% interest from each partner directly. Record the transaction.

Problem 10: Eggs and Bacon are partners with capital balances of $40,000 and $23,000 respectively. The partners share profits and losses equally. Grits agrees the join the partnership by paying $8,000 for a 10% interest in the partnership. Record the transaction using the bonus method.

Problem 11: Same facts as 10 except the partners agree to use the Goodwill method to record the transaction.

Problem 12: Same facts as 10 except Grits paid $6,500 for 10% in the partnership.

Problem 13: Same facts as 12, except the partners agree to use the Goodwill method to record the transaction. Retirement of a Partner

Problem 14: Be, Kelly, Michelle, and Farrah are partners with capital balances of $100,000, $70,000, $50,000, and $20,000 respectively. The partners share profit and losses in a 4:3:2:1 ratio. Farrah wishes to retire from the partnership. The partners agree that the partnership will pay Farrah her interest in the partnership and a new partnership will form with Be, Kelly, and Michelle.

Problem 15: Same facts as 14, except the Farrah is willing to take only $19,100 as she retires from the partnership. Prepare the journal entry using the bonus method (Why is the Goodwill method not used in this situation).

Problem 16: Same facts as 14, except the partners that the partnership will pay Farrah $21,800 for her interest in the partnership. Prepare the journal entry using the bonus method.

Problem 17: Same facts as 16 except prepare the journal entry using the goodwill method. Liquidation of a Partnership

Problem 18: Be, Kelly, and Michelle are partners that share profits and losses in a 4:3:2 ratio. The partners vote to liquidate the partners. At the time of the vote the partnership had the following balance sheet Cash $60,000 Equipment 100,000 Total Assets $160,000 Liabilities $20,000 Be, capital 80,000 Kelly capital 40,000 Michelle, capital 20,000 $160,000

1. All liabilities are paid.

2. Equipment is sold for $99,430.

3. Final distribution made to partners. Prepare a schedule of liquidation.

Problem 19: Same as 18, except payments to partners is to be made as soon as they can be safely paid. Prepare a schedule of safe payment and a schedule of liquidation.