CHAPTER 15, 1

SIDE NOTES: This question has 7 parts, please answer the FULL question, please TYPE your answers, please LABEL your answer.

Required informatio [The following information applies to the questions displayed below.] Debra and Merina sell electronic equipment and supplies through their partnership. They wish to expand their computer lines and decide to admit Wayne to the partnership. Debra's capital is $200,000, Merina's capital is $160,000, and they share income in a ratio of 3:2, respectively Part 1 of 7 5.88 points Required: Record Wayne's admission for each of the following independent situations a. Wayne directly purchases half of Merina's investment in the partnership for $99,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) eBook View transaction list Print Journal entry worksheet References Record the purchase of one-half of Merina's investment for $99,000 by Wayne Note: Enter debits before credits. Event General Journal Debit Credit Merina, Capital 80,000 Wayne, Capital 80,000