Adam, Bill, and Charlie Are Partners

question 32

Multiple Choice

Adam, Bill, and Charlie are partners. The profit and rule sharing rule between them is 2:5:3, with Bill getting the most and Adam getting the least. The partnership incurs a net loss of $18,000. While closing the Income Summary:

• A)Income Summary will be credited for $5,400.
• B)Adam, Capital will be debited for $5,400.
• C)Adam, Capital will be credited for $5,400.
• D)Charlie, Capital will be debited for $5,400.

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Definitions:

Ophthalmologists

Medical doctors specialized in the diagnosis and treatment of eye diseases, including surgeries and prescribing glasses.

Mastoid Bone

A prominent bone located behind the ear that is part of the temporal bone of the skull, involved in ear structure and function.

Ear Canal

The tube that runs from the outer ear to the eardrum, transporting sound waves to the eardrum.

Sensorineural Hearing Loss

Hearing loss that occurs when neural structures associated with the ear are damaged. Neural structures include hearing receptors and the auditory nerve.