Question #$2$: Pivot Partnership $[16$ Marks$](24$ Minutes$)$

Jonathan, Stuart, and Anna created BBJ$,$ a website design partnership on January $1,2023.$ Jonathan invested $$2,000$ cash and a computer worth $$3,000.$ Stuart invested $$6,000$ cash and Anna invested $$5,000$ cash and graphic software and equipment worth $$4,000.$ They agreed that each would get a $10\%$ interest allowance on each partner's initial investment. The remainder of the profit was to be split based on the ratio of each partner's initial investment.

On December $31,2023$ the partnership's profit for the year is $$125,000$ and withdrawals at year end are $$2,000$ for Jonathan, $$1,500$ for Stuart and $$2,800$ for Anna.

On January $1,2024,$ Jaylin is admitted to the partnership with a $15\%$ equity, investing $$30,000$ cash.

Required:

Prepare a schedule showing the partnership capital allocations from January $1,2023,$ to December $31,2023.$

Prepare the journal entry for the INITIAL partnership activity on January $1,2023($Just the January $1,2023,$ entry$).$

Prepare the journal entry to admit Jaylin to the partnership.

$3$