Problem 1 Todd is interested in investing in Charger partnership for a 30% interest; however, the current partners are concerned how the addition of new partner will impact their current partnership capital accounts. The capital balances at the beginning of the year are Chad (40%) $80,000; Adam (40%) $50,000; and Alex (20%) $65,000 Prepare the journal entry (in Word or Excel) for each of the following scenarios:
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Problem 1 Todd is interested in investing in Charger partnership for a 30% interest; however, the current partners are concerned how the addition of
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