Instructions$$28,800$ ?and one$-$fourth of Max Gee's interest $$21,200.$ ?Loren Rothman contributes $$76,300$ ?cash to the partnership, for which she is to receive an ownership equity of $$76,300.$a$.$ ?On December $31,$ ?journalize the entries to record the admission of $(1)$ ?Darcey Lind and $(2)$ ?Loren Rothman.b$.$ ?What are the capital balances of each partner after the admission of the new partners?General Journala$.$ ?On December $31,$ ?journalize the entries to record the admission of $(1)$ ?Darcey Lind and $(2)$ ?Loren Rothman.General Journal Instructions$5$ ?more Check My Work uses remaining.

Transcribed Image Text:

34 5 Instructions The capital accounts of Jamie Dexter and Max Gee have balances of $148,600 and $84,200, respectively. Darcey Lind and Loren Rothman are to be admitted to the partnership. Darcey Lind buys one-fifth of Jamie Dexter's interest for $28,800 and one-fourth of Max Gee's interest $21,200. Loren Rothman contributes $76,300 cash to the partnership, for which she is to receive an ownership equity of $76,300. a. On December 31, journalize the entries to record the admission of (1) Darcey Lind and (2) Loren Rothman. b. What are the capital balances of each partner after the admission of the new partners? Final Question General Journal a. On December 31, journalize the entries to record the admission of (1) Darcey Lind and (2) Loren Rothman. General Journal Instructions b. What are the capital balances of each partner after the admission of the new partners? Partner Capital Balance Jamie Dexter, Capital $ Max Gee, Capital $ Darcey Lind, Capital $ Loren Rothman, Capital $ JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS 1 2 My Work 5 more Check My Work uses remaining. PAGE 10 ACCOUNTING EQUATION LIABILITIES EQUITY Previous 34 5 Instructions The capital accounts of Jamie Dexter and Max Gee have balances of $148,600 and $84,200, respectively. Darcey Lind and Loren Rothman are to be admitted to the partnership. Darcey Lind buys one-fifth of Jamie Dexter's interest for $28,800 and one-fourth of Max Gee's interest $21,200. Loren Rothman contributes $76,300 cash to the partnership, for which she is to receive an ownership equity of $76,300. a. On December 31, journalize the entries to record the admission of (1) Darcey Lind and (2) Loren Rothman. b. What are the capital balances of each partner after the admission of the new partners? Final Question General Journal a. On December 31, journalize the entries to record the admission of (1) Darcey Lind and (2) Loren Rothman. General Journal Instructions b. What are the capital balances of each partner after the admission of the new partners? Partner Capital Balance Jamie Dexter, Capital $ Max Gee, Capital $ Darcey Lind, Capital $ Loren Rothman, Capital $ JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS 1 2 My Work 5 more Check My Work uses remaining. PAGE 10 ACCOUNTING EQUATION LIABILITIES EQUITY Previous