In the ad partnership, allen's capital is $140,000 and daniel's is $40,000 and they share income in a 3: 1 ratio, respectively. they decide to admit david to the partnership. each of the following questions is independent of the others.
refer to the information provided above. david invests $40,000 for a one-fifth interest in the total capital of $220,000. the journal to record david's admission into the partnership will include:
a. a credit to cash for $40,000.
b. a debit to allen, capital for $3,000.
c. a credit to david, capital for $40,000.
d. a credit to daniel, capital for $1,000.

B. a debit to Allen, Capital for $3,000.

Explanation:

Capital after admission: 220,000

Daniel receives a fifth so 20%: 20% of 220,000  = 44,000

Daniel investment 40,000

So there is a 4,000 bonus that will be taken between the old partners at their share ratio:

Allen 4,000 x 3/4  = 3,000

Daniel 4,000 x 1/4 = 1,000

The journal entry wil lbe:

cash 40,000

allen 3,000

daniel 1,000

       davin         44,000

prokaryotic cells do not contain a nucleus or any other membrane-bound organelle. eukaryotic cells contain membrane-bound organelles, including a nucleus. so i belive the answer is a : p hope it

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