Question: ng h 11 & 12 Saved Help s Talent, a local HR consulting firm, has total partners' equity of $774,000, which is made up of


ng h 11 & 12 Saved Help s Talent, a local HR consulting firm, has total partners' equity of $774,000, which is made up of Hall, Capital, $607,000, and Reynolds, Capital, $167,000. The partners share profit/(losses) in a ratio of 75% to Hall and 25% to Reynolds. On July 1, Morris is admitted to the partnership and given a 20% interest in equity. Required: Prepare the journal entry to record the admission of Morris under each of the following unrelated assumptions, in which Morris invests cash of a. $193,500 12 View transaction list Journal entry worksheet 1 Record the admission of Morris. Note: Enter debits before credits Debit General Journal Credit Date July 01 4 b. $237,000 View transaction list Journal entry worksheet Record the admission of Morris. Note: Enter debits before credits. Date General Journal Debit Credit July 01 Record entry Clear entry View general journal c. $117,000 View transaction list Journal entry worksheet
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