Business, 06.11.2019 23:31 cjustiniano705

Wright, bell, and edison are partners and share income in a 2: 5: 3 ratio. the partnership's capital balances are as follows: wright $33,000, bell $27,000, and edison $40,000. edison decides to withdraw from the partnership, and the partners agree not to revalue the assets upon edison's retirement. the journal entry to record edison's june 1 withdrawal from the partnership if edison sells his interest to whitney for $45,000 after the two partners approve whitney as partner is:

debit edison, capital $45,000; credit whitney, capital $45,000

debit edison, capital $40,000; credit cash $40,000.

debit edison, capital $40,000; debit wright, capital $2,500; debit bell, capital $2,500; credit whitney, capital $45,000

debit edison, capital $40,000; credit whitney, capital $40,000

debit edison, capital $40,000; debit cash $5,000; credit whitney, capital $45,000.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 19:20

What impact did the economic opportunities in pennsylvania and new york have on virginia? a. virginia planters started to migrate to new york. b. new yorkers began buying up cheap virginia real estate. c. virginians found themselves resorting increasingly to slavery. d. virginians loosened their slave laws to attract more migrants.

Answers: 2

Answer

Business, 21.06.2019 21:00

Identifying transactions national park tours co. is a travel agency. the nine transactions recorded by national park tours during may 2019, its first month of operations, are indicated in the following t accounts: cash (1) 75,000 (2) 900 (7) 8,150 (3) 1,600 (4) 6,280 (6) 2,700 (9) 2,500 accounts receivable (5) 12,300 (7) 8,150 supplies (2) 900 (8) 660 equipment (3) 8,000 accounts payable (6) 2,700 (3) 6,400 beth worley, capital (1) 75,000 beth worley, drawing (9) 2,500 fees earned (5) 12,300 operating expenses (4) 6,280 (8) 660 indicate for each debit and each credit (a) whether an asset, liability, owner's equity, drawing, revenue, or expense account was affected and (b) whether the account was increased (+) or decreased account debited account credited transaction type effect type effect (1) (2) (3) (4) (5) (6) (7) (8) (9)

Answers: 3

Answer

Business, 22.06.2019 11:00

Consider an economy where government expenditures are 10 and total tax revenues are 10. the supply of labor is fixed at 125 and the supply of capital is fixed at 8. the economy is described by the following equations. y k to the power of 1 divided by 3 end exponent l to the power of 2 divided by 3 end exponent c 2.5 + 0.75 ( y - t ) i 10 - 0.5 r the level of private savings is

Answers: 1

Answer

Business, 23.06.2019 05:10

Lakota is buying a new laptop. he wants to use google as his main search engine. he should be sure which internet browser(s) are loaded on his computer?

Answers: 2

Answer

You know the right answer?

Wright, bell, and edison are partners and share income in a 2: 5: 3 ratio. the partnership's capital...

Questions