The Distance Plus partnership has the following capital balances at the beginning of the current year along with respective profit and loss percentages: Tiger (40%) $ 150,000 Phil (30%) 120,000 Ernie (30%) 135,000 Each of the following questions should be viewed independently. Required: If Sergio invests $180,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the bonus method is used. If Sergio invests $100,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the bonus method is used. If Sergio invests $102,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the goodwill method is used.

The Distance Plus partnership has the following capital balances at the beginning of the current year along with respective profit and loss percentages: Tiger (50%) $ 165,000 Phil (20%) 135,000 Ernie (30%) 150,000 Each of the following questions should be viewed independently. Required: If Sergio invests $190,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the bonus method is used. If Sergio invests $100,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the bonus method is used. If Sergio invests $120,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the goodwill method is used. Answer is not complete. Complete this question by entering your answers in the tabs below.   Required A Required B Required C If Sergio invests $190,000 in cash in the business for a 20 percent interest, what journal entry is…

The Distance Plus partnership has the following capital balances at the beginning of the current year along with respective profit and loss percentages: Tiger (50%) Phil (20%) Ernie (30%) $ 135,000 105,000 120,000 Each of the following questions should be viewed independently. Required: a. If Sergio invests $150,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the bonus method is used. b. If Sergio invests $80,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the bonus method is used. c. If Sergio invests $100,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the goodwill method is used. Complete this question by entering your answers in the tabs below. Required A Required B Required C If Sergio invests $150,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the bonus method is used. Note: If…

The Distance Plus partnership has the following capital balances at the beginning of the current year along with respective profit and loss percentages:         Tiger (40%) $ 65,000 Phil (20%)   35,000 Ernie (40%)   50,000     Each of the following questions should be viewed independently.   If Sergio invests $70,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the bonus method is used. If Sergio invests $60,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the bonus method is used. If Sergio invests $72,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the goodwill method is used.

The Distance Plus partnership has the following capital balances at the beginning of the current year: Tiger (50% of profits and losses)                $75,000 Phil (20%)                                                   $45,000 Ernie (30%)                                                 $60,000 Each of the following questions should be viewed independently a. If Sergio invests $60,000 in cash in the business for a 20 percent interest, what journal entry is recorded ? Assume that the bonus method is used. b. If Sergio invests $40,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the bonus method is used. c. If Sergio invests $50,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the goodwill method is used.

The Distance Plus partnership has the following capital balances at the beginning of the current year: Tiger, (40% of profits and losses) $125,000 Phil (20% ) 95,000 Ernie (40%) 110,000 Each of the following questions should be viewed independently. a. If Sergio invests $150,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the bonus method isused. b. If Sergio invests $140,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the bonus method isused. c. If Sergio invests $150,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the goodwill method isused.

The Distance Plus partnership has the following capital balances at the beginning of the current year along with respective profit and loss percentages: Tiger (50%) Phil (40%) Ernie (10%) Each of the following questions should be viewed independently. Required: a. If Sergio invests $60,000 in cash in the business for a 25 percent interest, what journal entry is recorded? Assume that the bonus method is used. b. If Sergio invests $50,000 in cash in the business for a 25 percent interest, what journal entry is recorded? Assume that the bonus method is used. c. If Sergio invests $60,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Assume that the goodwill method is used. $ 70,000 40,000 55,000 Complete this question by entering your answers in the tabs below. Required A Required B View transaction list If Sergio invests $60,000 in cash in the business for a 25 percent interest, what journal entry recorded? Assume tha method is used. the bonus Note: If…

The Distance Plus partnership has the following capital balances at the beginning of the current year along with respective profit and loss percentages: Tiger (40%) Phil (20%) Ernie (40%) Each of the following questions should be viewed independently. a. If Sergio invests $120,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the bonus method is used. b. If Sergio invests $90,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the bonus method is used. c. If Sergio invests $108,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the goodwill method is used. $ 95,000 65,000 80,000 Required A Complete this question by entering your answers in the tabs below. No Required B 1 If Sergio invests $90,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the bonus method is used. (If no entry is required for…

Partners Adan and Eba have capital balances of  Paradise  partnership of P400,000 and P600,000, respectively.  They agree to share profits and losses as follows:                                                                                                            Adan                        Eba   As salaries                                                                                   P100,000               P120,000 As interest on capital at the beginning of the year                       10%                       10% Remaining profits or losses                                                              50%                       50% Based on the information above, answer the following: If income for the year was P300,000, what will be the distribution of income to Adan? If net loss for the year was P20,000, what will be the distribution to Eba?

how do i calculate remainder to allocate?