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Assume that the Soto- Nieves partnership, owned by Rose Soto and Alex Nieves, has total...

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Accounting

Assume that the Soto- Nieves partnership, owned by Rose Soto and Alex Nieves, has total capital of $350,000. Amelia acquires a 45% ownership (capital) interest in the partnership by making a cash investment of $50,000. The procedure of determining Amelia's capital credit and the bonus to the old partners is a follow:

a. Determine the total capital of the new partnership.

Total capital of existing partnership

Investment by new partner, Edayra

Total capital of new partnership

b. Determine the new partner's credit.

Total capital of existing partnership

New partner's ownership interest

New partner's capital credit

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