Question: I really need help understanding how to solve this accounting problem. I appreciate it. Required information (The following information applies to the questions displayed below.)

I really need help understanding how to solve this accounting problem. I appreciate it.

I really need help understanding how to solve this accounting problem. Iappreciate it. Required information (The following information applies to the questions displayedbelow.) Meir, Benson, and Lau are partners and share income and lossin a 2:3:5 ratio (in percents: Meir, 20%; Benson, 30%; and Lau,

Required information (The following information applies to the questions displayed below.) Meir, Benson, and Lau are partners and share income and loss in a 2:3:5 ratio (in percents: Meir, 20%; Benson, 30%; and Lau, 50%). The partnership's capital balances are as follows: Meir, $58,000; Benson, $89,000; and Lau, $153,000. Benson decides to withdraw from the partnership. 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) $100,000; (b) $73,000; and (c) $131,000. (Do not round your intermediate calculations.) Journal entry worksheet

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