The Appropriate Format of the December 31,2010 Closing Entry for John

question 54

Multiple Choice

The appropriate format of the December 31,2010 closing entry for John & Hope Limited Liability Partnership,whose two partners had withdrawn their salaries from the partnership during the year is: $\begin{array}{|l|l|r|r|}\hline \text { A) } & \text { John, Drawing } & \mathrm{XXX} & \\\hline & \text { Hope, Drawing } & \mathrm{XXX} & \\\hline & \text { Salaries Payable } & & \mathrm{XXX} \\\hline \text { B) } & \text { Salaries Expense } & \mathrm{XXX} & \\\hline & \text { John, Drawing } & & \mathrm{XXX} \\\hline & \text { Hope, Drawing } & & \mathrm{XXX} \\\hline \text { C) } & \text { John, Capital } & \mathrm{XXX} & \\\hline & \text { Hope, Capital } & \mathrm{XXX} & \\\hline & \text { Salaries Payable } & & \mathrm{XXX} \\\hline \text { D) } & \text { John, Capital } & \text { XXX } & \\\hline & \text { Hope, Capital } & \text { XXX } & \\\hline & \text { John, Drawing } & & \text { XXX } \\\hline & \text { Hope, Drawing } & & \text { XXX } \\\hline\end{array}$

• A)A Above.
• B)B Above.
• C)C Above.
• D)D Above.

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Definitions:

Sub-Saharan African Countries

Nations located in the African region south of the Sahara Desert, characterized by diverse cultures, languages, and economic conditions.

Fertility Rates

The average number of children born to a woman over her lifetime within a specific population.

Developing Countries

Nations with a lower level of industrialization, lower living standards, and lower Human Development Index than developed countries.

Women Employment

Refers to the participation and integration of women in the workforce and labor markets.