A partnership has total equity of $491,000. Partnership equity consists of Green, Capital, $342,000, and...
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Accounting
A partnership has total equity of $ Partnership equity consists of Green, Capital, $ and Tan, Capital, $ Net income and loss is shared in a ratio of to Green and to Tan. On December the partnership accepts Brown as a new partner. Record the entry for Brown's admission under each separate situation. Record the admission assuming Brown makes an investment of $ cash for a interest in equity and a share of any income or loss. Record the admission assuming Brown makes an investment of $ cash for a interest in equity and a share of any income or loss. Record the admission assuming Brown makes an investment of $ cash for a interest in equity and a share in any income or loss.
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