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SAN wome Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion 5 Return to question Required information Problem 12-5A (Algo) Partner withdrawal and admission LO P3, P4 [The following information applies to the questions displayed below) Meir, Benson, and Lau are partners and share income and loss in a 32.5 ratio (in percents. Meu, 30%, Benson, 20% and Lau, 50%). The partnership's capital balances are as follows: Meir $103.000, Benson, $69.000, and Lau, $178,000. Benson decides to withdraw from the partnership Part 2 of 2 15 point Problem 12-5A (Algo) Part 2 2. Assume that Benson does not retire from the partnership described in Part 1. Instead, Rhode is admitted to the partnership on February 1 with a 25% equity Prepare journal entries to record Rhode's entry into the partnership under each separate assumption Rhode Invests (a) $116,667. () $85,167, and (a $152,834 (Do not round intermediate calculations.) Answer is not complete. MC Graw M 2. Assume that Benson does not retire from the partnership described in Part 1 Instead, Rhode is admitted to the partnership on February 1 with a 25% equity Prepare journal entries to record Rhode's entry into the partnership under each separate assumption Rhode invests (d) $116,667. (6) $85,167, and (a $152,834. (Do not round intermediate calculations.) Part 2012 15 point Answer is not complete. General Journal No Credit Transaction (a) Debit 116,667 1 Cash Rhodo, Capital 116,667 2 (b) 85,167 Cash Moir, Capital Benson, Capital Lau, Capital DOG 7,087 4.7253 11,812,375 Mc Graw Rhode, Capital 116,667 (b) 85,167 Cash Meir, Capital Benson, Capital Lau, Capital Rhode, Capital >>>> 7,087 X 4.725 % 11,812,375 % 108,792 (c) Cash 152,834 Meir, Capital Benson, Capital Lau, Capital Rhode, Capital >>>> 125,709 X 813,765 % 13,563 SAN wome Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion 5 Return to question Required information Problem 12-5A (Algo) Partner withdrawal and admission LO P3, P4 [The following information applies to the questions displayed below) Meir, Benson, and Lau are partners and share income and loss in a 32.5 ratio (in percents. Meu, 30%, Benson, 20% and Lau, 50%). The partnership's capital balances are as follows: Meir $103.000, Benson, $69.000, and Lau, $178,000. Benson decides to withdraw from the partnership Part 2 of 2 15 point Problem 12-5A (Algo) Part 2 2. Assume that Benson does not retire from the partnership described in Part 1. Instead, Rhode is admitted to the partnership on February 1 with a 25% equity Prepare journal entries to record Rhode's entry into the partnership under each separate assumption Rhode Invests (a) $116,667. () $85,167, and (a $152,834 (Do not round intermediate calculations.) Answer is not complete. MC Graw M 2. Assume that Benson does not retire from the partnership described in Part 1 Instead, Rhode is admitted to the partnership on February 1 with a 25% equity Prepare journal entries to record Rhode's entry into the partnership under each separate assumption Rhode invests (d) $116,667. (6) $85,167, and (a $152,834. (Do not round intermediate calculations.) Part 2012 15 point Answer is not complete. General Journal No Credit Transaction (a) Debit 116,667 1 Cash Rhodo, Capital 116,667 2 (b) 85,167 Cash Moir, Capital Benson, Capital Lau, Capital DOG 7,087 4.7253 11,812,375 Mc Graw Rhode, Capital 116,667 (b) 85,167 Cash Meir, Capital Benson, Capital Lau, Capital Rhode, Capital >>>> 7,087 X 4.725 % 11,812,375 % 108,792 (c) Cash 152,834 Meir, Capital Benson, Capital Lau, Capital Rhode, Capital >>>> 125,709 X 813,765 % 13,563