Masters,Hardy,and Rowen Are Dissolving Their Partnership

question 101

Multiple Choice

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,$15,000;Hardy,$15,000;Rowen,$(2,000) .After all the assets are sold and liabilities are paid,but before any contributions to cover any deficiencies,there is $28,000 in cash to be distributed.Rowen pays $2,000 to cover the deficiency in his account.The general journal entry to record the final distribution would be:

• A)Debit Masters,Capital $15,000;debit Hardy,Capital $15,000;credit Cash $30,000.
• B)Debit Masters,Capital $14,000;debit Hardy,Capital $14,000;credit Cash $28,000.
• C)Debit Masters,Capital $15,000;debit Hardy,Capital $15,000;credit Rowen,Capital $2,000;credit Cash $28,000.
• D)Debit Cash $28,000;debit Rowen,Capital $2,000;credit Masters,Capital $15,000;credit Hardy,Capital $15,000.
• E)Debit Masters,Capital $9,334;debit Hardy,Capital $9,333;debit Rowen,Capital $9,333;credit Cash $28,000.

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Definitions:

Low Sexual Desire

A decrease in the usual interest in sexual activities, which can impact relationships and personal well-being.

Paraphilia

Patterns of sexual arousal or activity that involve unusual objects, situations, or individuals and may cause distress or impair normal functioning.

Masturbate

The sexual stimulation of one's own genitals, often leading to orgasm, as a means of achieving sexual pleasure.

Orgasmic Disorder

A sexual dysfunction characterized by difficulty experiencing orgasm following a normal sexual excitement phase.