The Entry to Record the Equal Distribution of Net Income

question 48

Multiple Choice

The entry to record the equal distribution of net income between two partners consists of a debit to

• A) Income Summary and a credit to each partner's capital account.
• B) each partner's capital account and a credit to Cash.
• C) Income Summary and a credit to each partner's drawing account.
• D) each partner's capital account and a credit to Income Summary.

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Definitions:

Recruits

Individuals who are newly enlisted or employed in an organization, team, military, etc., often undergoing training.

Male Birds

Adult male members of the avian class, often distinguished by colorful plumage, songs, or behaviors used in attracting mates and territorial defense.

Species' Song

A unique vocalization pattern or sound sequence that is characteristic of a particular species, often used in mating calls or territorial claims.

Throat Paralysis

A condition where muscles in the throat lose their ability to function, often affecting speech and swallowing.