Problem $15-11($Algo$)$ Part d Problem $15-11($Algo$)$ Part e

Required:

e$.$ Wayne directly purchases a $25$ percent interest by paying Debra $$96,000$ and Merina $$50,000.$ The land account is increased

before Wayne is admitted.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

Record the revaluation of land. Problem $15-11($Algo$)$ Part f

Required:

f$.$ Wayne invests $$64,000$ for a $20$ percent interest in the total capital of $$406,000.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

A

Record Wayne's investment of $$64,000$ for the one$-$fifth interest given that the

total capital is $$406,000.$ Problem $15-11($Algo$)$ Part g

Required:

g$.$ Wayne invests $$100,000$ for a $20$ percent interest. Goodwill is to be recorded.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

A Record the entry for goodwill.

B Record the admission of Wayne.

Required:

d$.$ Debra and Merina agree that some of the inventory is obsolete. The inventory account is decreased before Wayne is admitted.

Wayne invests $$90,000$ for a $25$ percent interest.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.