Floyd and Merriam Start a Partnership Business on June 12,2019 $$\begin{array} { | l | r | } \hline \text { Floyd } & \$ 50,000 \\\hline \text { Merriam } & 23,000 \\\hline\end{array}$$

question 170

Multiple Choice

Floyd and Merriam start a partnership business on June 12,2019.Their capital account balances as of December 31,2020 stood as follows: $$\begin{array} { | l | r | } \hline \text { Floyd } & \$ 50,000 \\\hline \text { Merriam } & 23,000 \\\hline\end{array}$$ They agreed to admit Ramelow into the business for a one-fifth interest in the new partnership.Ramelow contributes $27,000 cash in exchange for the partnership interest.Assume that Floyd and Merriam shared profits and losses in a 3:1 ratio before the admission of Ramelow.Which of the following is the correct journal entry to record the above admission?

• A) \[\begin{array} { | c | c | c | }
• \hline \text { Cash } & 27,000 & \\
• \hline \text { Ramelow, Capital } & & 27,000 \\
• \hline
• \end{array}\]
• B) \(\begin{array}{|l|r|r|}
• \hline\text { Cash } & 27,000 & \\
• \hline \text { Merriam, Capital } & & 7000 \\
• \hline \text { Floyd, Capital } & & 20,000 \\
• \hline
• \end{array}\)
• C) \[\begin{array} { | c | r | r | }
• \hline \text { Merriam, Capital } & 20,000 & \\
• \hline \text { Floyd, Capital } & 7000 & \\
• \hline \text { Ramelow, Capital } & & 27,000 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | r | r | }
• \hline \text { Cash } & 27,000 & \\
• \hline \text { Floyd, Capital } & & 5250 \\
• \hline \text { Merriam, Capital } & & 1750 \\
• \hline \text { Ramelow, Capital } & & 20,000 \\
• \hline
• \end{array}\]

Understand the difference between positive and negative symptoms in schizophrenia.

Identify various subtypes of schizophrenia and their characteristics.

Understand the concepts of hallucinations and delusions.

Recognize the gender, social, and economic factors influencing the likelihood and severity of mood disorders and schizophrenia.

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