Pls. help me with this problem about Partnership

Aug 21, 2012
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X and Y are partners with capital balance of P30,000 and P40,000 respectively.
Give the entry to record the admission of Z under each of the following independent cases.

1. Z buys 1/4 of the interest of X and Y for P9,000.
2. X sells 1/2 of his interest to Z for P17,000.
3. Y sells 40% of his interest to Z at book value.
4. Z makes an investment of P20,000 for a 1/6 interest in the firm whose agreed capitalization is P90,000.
5. Z is required to make a P20,000 investment for a 1/5 interest in the total asset of P100,000.
6. Z will make an investment of P30,000 for a 30% interest in the new partnership.
7. Z will invest P28,000 for a 1/3 interest in the agreed capital of P105,000.
8. Z was invited to invest P10,000 for a 1/5 interest in the new firms total capital of P80,000.


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