1. Problem 6: Larry and Sid (profit sharing 3:2) are partners with capital amounts of $ 220,000 and $ 80,000. Alice is admitted into the partnership with 25% share in the partnership. Answer the questions below for each of the following situation:

(Problem 6 related) if no goodwill or bonus is recorded then what is the fair amount of capital that Alice should bring into the partnership for a 25% share in profits?

2. (Problem 6 related) Alice invests $ 130,000 into the partnership and goodwill is recorded. In recording the journal entry for the admission of Alice, the goodwill account will be debited with

3. (Problem 6 related) if Alice invests $ 130,000 into partnership for a 25% share and goodwill is recorded, what will be the balance in the capital account of Larry after admission?

4. (Problem 6 related) If Alice invests $130,000 into partnership for a 25% share and goodwill is recorded, what will be the balance in the capital account of Sid after admission?

5. (Problem 6 related) If Alice invests $130,000 for 25% share and the partners decides to use bonus method, what will be the balance in Larrys Capital Account after the admission of Alice?

6. (Problem 6 related) If Alice invests $130,000 for 25% share and the partners decide to use the bonus method, which of the following statements in this situation is true

7. (Problem 6 related) If Alice invests $90,000 and the partners decide to use the bonus method, what will be the balance in Larry's Capital account after the admission?

8. (Problem 6 related) If Alice invests $90,000 and the partners decide to use the bonus method, what will be the balance in Larry's Capital account after the admission?