?

Kern and Pate are partners with capital balances of $60,000
and $20,000, respectively. Profits and losses are divided in the
ratio of 60:40. Kern and Pate decided to form a new partnership
with Grant, who invested land valued at $15,000 for a 20% capital
interest in the new partnership. Grant’s cost of the land was
$12,000. The partnership elected to use the bonus method to
record the admission of Grant into the partnership. Grant’s capital
account should be credited for