Masters, Hardy, and Rowen are dissolving their partnership. Their partnership agreement allocates income and losses equally among the partners. The current period's ending capital account balances are Masters, $15,300, Hardy, $15,300, Rowen, $(2,300). After all the assets are sold and liabilities are paid, but before any contributions to cover any deficiencies, there is $28,300 in cash to be distributed. Rowen pays $2,300 to cover the deficiency in his account. The general journal entry to record the final distribution would be:

Why does an organization prepare a balance sheet? a. to reveal what the organization owns and owes at a point in time b. to reveal how well the company utilizes its cash c. to calculate retained earnings for a given accounting period d. to calculate gross profit for a given accounting period

Which curve shows increasing opportunity cost as you give up more of one option? demand curve bow-shaped curve yield curve indifference curve

Which of the following statements is true of unsought products? as compared to convenience products, unsought products are purchased more frequently. unsought products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort. a life insurance policy is an example of an unsought product. unsought products have strong brand identification for which a significant group of buyers is willing to make a special purchase effort. unsought products are those products purchased for further processing or for use in conducting a business.