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Thandie and Marco are partners with capital balances of $\$ 60,000 .$ They share profits and losses at 50$\%$ . Chris contributes $\$ 60,000$ to the partnership for a 1$/ 3$ share. What amount should the parthership record as an individual bonus to each of the old partners?A. $\$ 10,000$B. $\$ 7,000$C. $\$ 0$D. $\$ 5,000$

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Chapter 15

Partnership Accounting

Section 4

Prepare Journal Entries to Record the Admission and Withdrawal of a Partner

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Okay, so in the problem, there are two partners. Partner one is going to invest $10,000 immediately. Partner, too. They want to contribute in equivalent equivalent amount in three years. So whatever partner one is going to make in three years partner to is going to invest after three years. That's what their initial and I was going to end up being so that these two numbers are the same. So how much should partner to invest to match partner one's final investment? That's basically what the questions asking. So what you need to know before it's and the problem is the interest rates, which I'm going to label Lazar, is 6% so that the same thing is 0.6 as a decibel, and then it is calm, pounded semi annually. So if it's a compound interest, probably need to figure out how many times is going to be, um, how about it? So, Sam semi annually means twice a year, so you're gonna your end is gonna be, too, and then t is your time. So that's three years. So you're going to stick that into the formula is equal to P one plus are over. And aunty A is what we're trying to figure out. That's the final amount for partner one. Okay, P, that's 10,000. That's your initial amount. And you have one plus R, which is 0.6 over two over two times three. Okay, we're going to just take that all into a calculator and see what we get. So you get 10,000 and then one plus 10.6 divided by two. That's 20.3 and then to the power of two times three, which is so that's going to get us 11 940.52 So your answer is 11 points. Nine. Does it point comma 40 points. Five. That is your answer.

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