Tim and Michelle Have Decided to Form a Partnership with a 60/40

question 88

Multiple Choice

Tim and Michelle have decided to form a partnership with a 60/40 partnership interest ratio.Tim contributes $7,500 cash and $1,500 in merchandise inventory.While journalizing this transaction ________.

• A)Tim,Capital will be debited for $9,000
• B)Tim,Capital will be credited for $9,000
• C)Tim,Capital will be credited for $6,000 and Michelle,Capital will be credited for $4,500
• D)Tim,Capital will be debited for $6,000 and Michelle,Capital will be debited for $4,500

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Definitions:

Wakefulness

A state of consciousness characterized by alertness and awareness of the surrounding environment, distinguishing it from sleep.

Cerebral Cortex

The outer layer of neural tissue of the cerebrum of the brain, playing a key role in memory, attention, perception, awareness, thought, language, and consciousness.

Adequate Rest

Sufficient periods of sleep or relaxation to allow the body and mind to recover and rejuvenate.

Life Stressors

Events or conditions in one's life that cause physical or emotional stress, impacting well-being and potentially leading to various health issues.