Aron, Brown and Claire formed a partnership business. Their capital balances are: Aron $100,000, Brown $60,000 and
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Aron, Brown and Claire formed a partnership business. Their capital balances are: Aron $100,000, Brown $60,000 and Claire $40,000, and the P/L ratios are: Aron 20%, Brown 50% and Claire 30%. Daniel wants to join the business with 20% interest for a total payment of $60,000. Daniel paid the money directly to the partners. Record the admission of Daniel following the book value approach.
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