Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 2 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 12 Jul 2017 My Price 4.00

Blue and Green Partnership

Blue and Green Partnership has partner capital account balances as follows: Blue, Capital $550,000 Green, Capital 250,000 The partners share income and losses in the ratio of 60% to Blue and 40% to Green. Prepare the journal entry on the books of the partnership to record the admission of Yellow as a new partner under the following two independent circumstances. 1. Yellow pays $350,000 to Blue and $150,000 to Green for one-half of each of their ownership interest in a personal transaction. 2. Yellow invests $850,000 in the partnership for a one-third interest in partnership capital.

Answers

Maurice Tutor
(5)
Status NEW Posted 12 Jul 2017 04:07 PM My Price 4.00

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