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In Oriole partnership, capital balances are William $35 , 200 and Richard $44 , 000 . The
partners share income equally. Joseph is admitted to the firm with a 45% interest by an
investment of cash of $51 , 040 . Journalize the admission of Joseph. (Credit account titles are
automatically indented when the amount is entered. Do not indent manually. List all debit entries
before credit entries. If no entry is required, select "No Entry" for the account titles and enter O
for the amounts.)

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In Oriole partnership- capital balances are William $35-200 and Richar.docx

  • 1. In Oriole partnership, capital balances are William $35 , 200 and Richard $44 , 000 . The partners share income equally. Joseph is admitted to the firm with a 45% interest by an investment of cash of $51 , 040 . Journalize the admission of Joseph. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)