Financial Accounting: E12-11 J. Lynn, M. Oller, and F. Tate share income on a 5:3:2

Financial Accounting
E12-11 Journalize admission of a new partner by purchase of an interest
J. Lynn, M. Oller, and F. Tate share income on a 5:3:2 basis. They have capital balances of $30,000, $26,000, and $18,000, respectively, when Doc Duran is admitted to the partnership.
J. Lynn 30,000 5
M. Oller 26,000 3
F. Tate 18,000 2
Totals 74,000 10

Instructions
Prepare the journal entry to record the admission of Doc Duran under each of the following assumptions:
a. Purchase of 50% of Lynn's equity for $19,000:
b. Purchase of 50% of Oller's equity for $12,000.
c. Purchase of 33 1/3% of Tate's equity for $9,000.
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