Question: please help on plan c and part 2 Requirements h 1. Compute each partner's equity on the books of the new partnership under the following

Requirements h 1. Compute each partner's equity on the books of the new partnership under the following plans: a. Hughes pays $110,000 for Nedia's equity. Hughes pays Nedia directly b. Hughes contributes $80,000 to acquire a 1/4 interest in the partnership. c. Hughes contributes $140,000 to acquire a 1/4 interest in the partnership. 2. Journalize the entries for admitting the new partner under plans a, b, and c. Hughes is admitted to the partnership of Rengel & Nedia. Prior to her admission, the partnership books show Rengel's capital balance at $160,000 and Nedia's at $80,000. Assume Rengel and Nedia share profits and losses equally Read the requirements *** Requirement 1. Compute each partner's equity on the books of the new partnership under the following plans: a. Hughes pays $110,000 for Nedia's equity. Hughes pays Nedia directly. Begin by computing the partner's equity base for plan a. Hughes pays $110,000 for Nedia's equity. Hughes pays Nedia directly (Enter a share for each partner. Complete all answer boxes. For accounts with a 50 balance, make sure to enter "0" in the appropriate cell. Enter negative amounts with a parentheses or minus sign.) Plan A Rengel Nedia Hughes Plan A: Partnership capital before admission of Hughes $ 160,000 80,000 Plan A: Effect on capital balance as a result of admission of Hughes S 0 (80,000) 80,000 Plan A: Partnership capital after admission of Hughes $ 160,000 80,000 b. Hughes contributes $80,000 to acquire a 1/4 interest in the partnership. Compute each partner's equity. (Enter a share for each partner. Complete all answer boxes For accounts with a 50 balance, make sure to enter"0" in the appropriate cell.) 0 S Plan B Rengel Nedia Hughes Plan B: Partnership capital before admission of Hughes $ 160,000 80,000 Plan B: Effect on capital balance as a result of admission of Hughes 0 0 80,000 $ Plan B: Partnership capital after admission of Hughes 160,000 80,000 80,000 c. Hughes contributes $140,000 to acquire a 1/4 interest in the partnership Compute each partner's equity (Enter a share for each partner. Complete all answer boxes. For accounts with a $0 balance, make sure to enter "" in the appropriate cell.) Plan C Rengel Nedia Hughes Plan C: Partnership capital before admission of Hughes Plan C: Effect on capital balance as a result of admission of Hughes Plan C: Partnership capital after admission of Hughes
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