On january 1, professor smith made a resolution to lose some weight and save some money. he decided that he would strictly budget $100 for lunches each month. for lunch, he has only two choices: the faculty club, where the price of a lunch is $5, and alice's restaurant, where the price of a lunch is $10. every day that he does not eat lunch, he runs 5 miles. last month, professor smith chose to eat at the club 10 times and alice's 5 times. does this choice fit with his budget constrain?

The struter partnership has total partners’ equity of $510,000, which is made up of main, capital, $400,000, and frist, capital, $110,000. the partners share net income and loss in a ratio of 80% to main and 20% to frist. on november 1, adison is admitted to the partnership and given a 15% interest in equity and a 15% share in any income and loss. prepare journal entries to record the admission of adison for a 15% interest in the equity and a 15% share in any income and loss under the following independent assumptions. (1) record the admission of adison with an investment of $90,000 for a 15% interest in the equity and a 15% share in any income and loss. (2) record the admission of adison with an investment of $120,000 for a 15% interest in the equity and a 15% share in any income and loss. (3) record the admission of adison with an investment of $80,000 for a 15% interest in the equity and a 15% share in any income and loss.