I was just wondering if anyone could help me with the following problem. I am not sure even where to start.

Question

Reed, Sharp, and Tucker were partners with capital account balances of $80,000, $100,000, and $70,000, respectively. They agreed to admit Upton to the partnership. Upton purchased 30% of each partner's interest, with payments to Reed, Sharp, and Tucker of $32,000, $40,000, and $28,000,respectively. The partners agreed to use the bonus method to account for the admission of Upton to the partnership.
Prepare the journal entry to record the admission of Upton to the partnership.

Answer 1

reed 24
sharp 30
tucker 21
upton 75

Answer 2

hich of the following is not generally written into the articles ...
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