Lori and Mike Enter into a Partnership and Decide to Share

question 153

Multiple Choice

Lori and Mike enter into a partnership and decide to share profits and losses as follows: 1.The first allocation is a salary allowance with Lori receiving $12,000 and Mike receiving $25,000.
2) The second allocation is 20% of the partners' capital balances at year end.On December 31,2019,the capital balances for Lori and Mike are $86,000 and $344,000,respectively.
3) Any remaining profit or loss is allocated equally.
For the year ending December 31,2019,the partnership reported a net loss of $122,000.The journal entry to record the loss allocation will ________.

• A) debit Lori, Capital for $93,300
• B) debit Lori, Capital for $28,700
• C) debit Mike, Capital for $93,800
• D) credit Mike, Capital for $93,800

Recognize the classifications and characteristics of different mental disorders including personality disorders.

Understand the genetic and environmental factors contributing to schizophrenia and mood disorders.

Grasp the concept of positive and negative symptoms in schizophrenia and their response to treatment.

Understand the impact of social skills and environmental stress on mental health disorders.

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Definitions:

Functional Flexibility

The ability of an organization to adapt and respond to changes by reallocating and utilizing its resources or workforce in different functions or roles.

Procedural Flexibility

The ability to adapt and change procedures and processes to meet different circumstances or preferences.

Written Rules

Formal guidelines and regulations that are documented and used to govern the actions and behaviors of members within an organization or society.

Equity

Equity involves fairness and justice in treatment, access, and opportunities, aiming to recognize and address disparities among different groups.