To record Al and Dub investment

2/14/2019 Cash 630,000

Computer equipment 160,000
Inventory 150,000
Building 500,000
Delivery Van 900,000
Mortgage Payable 250,000
Al, Capital 560,000
Dub, Capital 1,580,000

To record partner's interest and salary

### Income and expense Summar 400,000
Al, Capital 101,625
Dub, Capital 298,375

Cash 400,000
Income and expense Summary 400,000

To record the admission of a new partner

1/1/2020 Al, Capital 174,000
Dub, Capital 174,000
Cash 200,000
Nation, Capital 548,000

To record the distribution of income

### Income and Expense Summary 500,000
Al, Capital 200,000
Dub, Capital 100,000
Nation, Capital 100,000

Cash 500,000
Income and expense Summary 500,000

To record adjustment
1-Jan Computer Equipment 10,000
Al, Capital 4,000
Dub, Capital 4,000
Nation, Capital 2,000

Al, Capital 12,000

Dub, Capital 12,000
 Nation, Capital 6,000
Inventory 30,000

To record the purchase of interest

1/1/2021 Al, Capital 169,906
Dub, Capital 474,094
Nation, Capital 161,000
Forever, Capital 805,000

Sale of NCA & Distribution of loss

1/1/2021 Al, Capital 90,000
Dub, Capital 90,000
Nation, Capital 45,000
Forever,Capital 75,000
Cash 570,000
Non- Cash Asset 870,000

Payment of liabilities
1/1/2021 Liabilities 250,000
Cash 250,000

Distribution to partners
1/1/2021 Al, Capital 158,719
Dub, Capital 671,281
Nation, Capital 307,500
Forever, Capital 512,500
Cash 2,050,000

Sale of NCA & Distribution of loss

1/1/2021 Al, Capital 70,000
Dub, Capital 70,000
Nation, Capital 15,000
Forever, Capital 25,000
Cash 770,000
Non-cash asset 870,000

Final Settlement
1/1/2021 Al, Capital 231,000
Dub, Capital 231,000
Nation,Capital 115,500
Forever, Capital 192,500
Cash 770,000