The mean absolute deviation (MAD) for the forecasts shown in the following table is:

A) more than 10 but less than or equal to 20.
B) more than 20 but less than or equal to 30.
C) more than 30 but less than or equal to 40.
D) more than 40 but less than or equal to 50.


Ans: A) more than 10 but less than or equal to 20.

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The profit-and-loss-sharing ratio among Simonsen, Paulson, and Richardson is 1:3:2, in the order given. Paulson is retiring from the partnership on December 31, 2017. Paulson is paid $230,000 cash in full compensation for her capital account balance. Which of the following is TRUE of the journal entry prepared at the time of retirement? (Round the final answer to the nearest dollar.)

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