P1, P2, and P3 are partners in XYZ Inc. Their capital balances on Dec 31, Year...

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P1, P2, and P3 are partners in XYZ Inc. Their capital balances on Dec 31, Year 5, are $386,799 for P1, S537,297 for P2, and $284,725 for P3. Among these partners on this date, the income sharing ratios are 49.57% for P1, 28.78% for P2, and the remainder for P3. On Jan 1, Year 6, a new partner P4 invests $227,423 in XYZ inc for a one-fifth (20%) interest in capital. In the journal entry to admit the new partner P4, how much capital will be credited or debited to P3 on Jan 1 using the BONUS method? O a. $13,276 O b. $14,248 C. $13,924 O d. $13.600 O e. $12,952 P1, P2, and P3 are partners in XYZ Inc. Their capital balances on Dec 31, Year 5, are $386,799 for P1, S537,297 for P2, and $284,725 for P3. Among these partners on this date, the income sharing ratios are 49.57% for P1, 28.78% for P2, and the remainder for P3. On Jan 1, Year 6, a new partner P4 invests $227,423 in XYZ inc for a one-fifth (20%) interest in capital. In the journal entry to admit the new partner P4, how much capital will be credited or debited to P3 on Jan 1 using the BONUS method? O a. $13,276 O b. $14,248 C. $13,924 O d. $13.600 O e. $12,952

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c 13 9 24 P 3 s capital balance on Dec 31 Year 5 284 725 In come sharing ratios on De... View the full answer