Assignment: Debra and Merina sell electronic equipment and supplies through their partnership. They wish to expand their computer lines and decide to admit Wayne to the partnership. Debra's capital is $200,000, Merina's capital is $160,000, and they share income in a ratio of 3:2, respectively.
Required: Record Wayne's admission for each of the following independent situations:
a. Wayne directly purchases half of Merina's investment in the partnership.
b. Wayne invests the amount needed to give him a one-third interest in the capital of the partnership if no goodwill or bonus is recorded.
c. Wayne invests $110,000 for a one-fourth interest if Goodwill is to be recorded.
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