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Prepare general journal entries to record the entry of dent

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Zeller, Acker, and Benton are partners with capital balances as follows:

Zeller, $86,000; Acker, $71,000; and Benton, $149,000.

Problem 1: The partners share profits and losses in a 3:2:5 ratio. Dent is admitted to the partnership on May 1, 2020, with a 25% equity. Prepare General Journal entries to record the entry of Dent into the partnership under each of the following unrelated assumptions:

a. Dent invests $102,000:
b. Dent invests $73,000:
c. Dent invests $133,000:

Reference no: EM132765632

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