Question: Lamar's capital balance is $ 4 1 , 6 0 0 after admitting Terrell to the partnership by investment. If Lamar's ownership interest is 2

Lamar's capital balance is $41,600 after admitting Terrell to the partnership by investment. If Lamar's ownership interest is 20% of total partnership capital, what were (1) Terrell's cash investment and (2) the bonus to the new partner?
(1) Terrell's cash investment $
(2) Bonus to new partner
Lamar's capital balance is $41,600 after admitting Terrell to the partnership

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