Keith and Jim Are Partners

question 45

Multiple Choice

Keith and Jim are partners.Keith has a capital balance of $47,000 and Jim has a capital balance of $32,000.Jim sells $15,000 of his ownership to Bill.Which of the following is TRUE of the journal entry to admit Bill?

• A) Bill, Capital will be debited for $17,000.
• B) Jim, Capital will be debited for $17,000.
• C) Jim, Capital will be credited for $15,000.
• D) Bill, Capital will be credited for $15,000.

---

Definitions:

Exercise

Physical activities intended to improve health, physical fitness, and overall well-being.

Motivation

A need or desire that energizes and directs behavior.

Laboratory Experiments

A method of research conducted in controlled, indoor environments, allowing precise manipulation of variables.

Artificiality

The condition or quality of being artificial or synthetic, as opposed to naturally occurring.