4. A has $5,000 invested in a business. He sells B a half-interest for $2,000, and places the money in the business. Make the entry.
5. X and Y bought merchandise to the amount of $12,000. X contributed $7,500; Y $4,500. They afterwards sold Z a one-third interest for $6,000. How much of this amount should X and Y receive respectively in order to make X, Y, and Z equal partners, assuming:
(a) Money paid into the business with no good-will.
(b) Money paid into the business with good-will.
(c) Money not paid into the business.
6. A and B carried on business in partnership and divided profits and losses in proportion to their capital, three-fifths and two-fifths, respectively. On January 1, 19—, A’s capital was $52,500, and B’s $35,000, as shown by a balance sheet of that date. They agreed to admit C as a partner from the same date on the following terms:
1. Assets and liabilities and capital to be taken as shown in the balance sheet.
2. $12,500 to be added to the assets for good-will.
3. The amount of good-will to be added to A’s and B’s capital in the proportion in which they divide profits.
4. C to pay to the partnership such a sum as will give him a one-fifth share in the business.