The capital account balances of a partnership are as follows: Marla, $48,000; Newby, $48,000; and Otis, $48,000 . If Newby retires and receives $50,000 cash from the partnership, the entry to record this transaction would include a
a. debit to Newby Capital, $50,000; b. debit to Newby Capital, $48,000; c. debit to Loss on Partner Retirement, $2,000; d. credit to Newby Capital, $50,000; e. none of these.
B
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Johnny thinks that changing an organization’s culture is like losing weight: It’s difficult and it can be done, but the effect is usually temporary. Is Johnny correct?
A. Yes, because once a culture is changed, it usually changes back. B. Yes, because once a culture starts to change, it is likely to continue to change. C. No, because changing an organization’s culture is impossible. D. No, because changing an organization's culture is easy. E. No, because once a culture is changed, the new norms tend to remain in place.
The amount of evidence gathered is not important to an auditor since the quality of the evidence is of primary importance
a. True b. False Indicate whether the statement is true or false
Explain the parts of an e-mail address and give an example (your own?)
Give an example of a firm whose core service location is severely limited
What will be an ideal response?