What should my journal entry's be to record the admission of morris based on the following information a company has total partner equity of 776,000 which is made up of marks capital 608,000 and Jeff's capital of 168,000 the partners share profit and losses in a ratio of 75% for mark and 25% for Jeff but on July 1 morris entered the partner ship and was given 20% interest in equity morris also invested cash of 194,000?

Answer rating: 100% (QA)

To record the admission of Morris as a new partner in the company the journal entries would be ... View the full answer