Ryan and Peter share profits in the ratio 3:2. They have decided to liquidate the partnership. They sold the furniture and equipment for $72,000. Which of the following is the correct journal entry for the sale transaction?
The balance sheet of Ryan and Peter's partnership as of December 31, 2018, is given below.
You might also like to view...
OLAP applications are usually installed on a special server that communicates with both the user's computer and the server or servers that contain a data warehouse or _____.
A. house databases B. information silos C. relational applications D. dimensional databases
Sierra Company uses the perpetual inventory system. How would the company calculate the cost of goods sold when recording a sale under the weighted-average cost flow method?
What will be an ideal response?
In which of the following ways should a company’s code of ethics differ from its mission statement or vision statement?
a. It should be less subject to fluctuation with environmental changes. b. It should have more input from management. c. It should be less aspirational and more in line with present circumstances. d. It should carry a greater reflection of industry expectations.
An advertising researcher would most likely use ________ to measure the effectiveness of a television commercial in getting attention and increasing brand awareness.
A. perceptual meaning studies B. portfolio tests C. order-of-merit tests D. paired-comparison methods E. clutter tests