In Crane Co, capital balances are frey $37.900 and Pedigo $45.400. The partners share income equally Vernon is admitted to the firm with a 42% interest by an investment of cash of $48,800 Journalize the admission of Vernon. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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In Crane Co, capital balances are frey $37.900 and Pedigo $45.400. The partners share income equally Vernon is admitted to the firm
with a 42% interest by an investment of cash of $48,000.
Journalize the admission of Vernon. (Credit account titles are automatically indented when amount is entered. Do not indent manually)
Account Titles and Explanation
Debit
Credit
Transcribed Image Text:In Crane Co, capital balances are frey $37.900 and Pedigo $45.400. The partners share income equally Vernon is admitted to the firm with a 42% interest by an investment of cash of $48,000. Journalize the admission of Vernon. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit
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