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) \[\begin{array} { | l | r | r | }
• \hline \text { Cash } & 27,000 & \\
• \hline \text { Floyd, Capital } & & 5250 \\
• \hline \text { Merriam, Capital } & & 1750 \\
• \hline \text { Ramelow, Capital } & & 20,000 \\
• \hline
• \end{array}\]

Identify evolutionary adaptations that enabled vertebrates to inhabit diverse environments.

Distinguish between various vertebrate groups based on their defining characteristics.

Recognize the evolutionary significance of amniotic eggs and other reproductive adaptations.

Describe the physiological adaptations that support different vertebrate lifestyles.

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HHI

The Herfindahl-Hirschman Index, a measure of market concentration to evaluate the level of competition within an industry.

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A sector of the economy devoted to the production, distribution, and sale of beer.

HHI

Herfindahl-Hirschman Index, a measure of the size of firms in relation to the industry and an indicator of the amount of competition among them.

Justice Department

A federal executive department of the U.S. government responsible for the enforcement of the law and administration of justice.