With the Variable Capital Balances Method Method 1)of Accounting for Partnership

question 17

Multiple Choice

With the variable capital balances method method 1) of accounting for partnership equity,the general journal entry to record interest on capital is:

• A)Debit profit distribution account; credit partner's capital accounts
• B)Debit profit distribution account; credit partner's retained earnings accounts
• C)Debit profit and loss summary account; credit partner's capital accounts
• D)Debit profit and loss summary account; credit partner's retained earnings accounts

---

Definitions:

Kicking Strategy

Techniques or plans developed to effectively use kicking as a method in sports or martial arts.

Gross Motor Movements

Physical activities that involve large muscles groups, such as walking, running, jumping, and throwing.

Long-term Memory

A type of memory capable of storing an unlimited amount of information indefinitely, ranging from minutes to a lifetime.

Memory Retrieval

The process of recalling or accessing information stored in memory, which can be influenced by various factors such as context and practice.