Some of the nonadvertising services performed by full-service agencies are performing research, selecting media, designing packages, and producing sales promotions.
Answer the following statement true (T) or false (F)
False
Full-service advertising agencies are equipped to serve clients in all areas of communication and promotion. The services of such agencies include planning, creating, and producing advertisements as well as performing research and media selection services. Non-advertising functions include producing sales promotion materials, publicity articles, annual reports, trade show exhibits, and sales training materials.
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Paul and Roger are partners who share income in the ratio of 3:2 . Their capital balances are $90,000 and $130,000, respectively. Income Summary has a credit balance of $50,000 after the second closing entry. What is Paul's capital balance after closing Income Summary to the capital accounts?
a. $108,000 b. $120,000 c. $115,000 d. $180,000
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What will be an ideal response?
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