E12-4 Adam Meppen withdrew cash of $47.000 for personal use, and Bailey Quaid with- drew cash of

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E12-4 Adam Meppen withdrew cash of $47.000 for personal use, and Bailey Quaid with- drew cash of $53.000 during the year. Using the data from situation

(d) in Exercise 12-3. journalize the entries to close

(a) the income summary account, and

(b) the partners' draw- ing accounts. Explanations are not required. What was the overall effect on partnership capital?

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Accounting

ISBN: 9780130906991

5th Edition

Authors: Charles T. Horngren, Walter T. Harrison, Linda S. Bamber, Betsy Willis, Becky Jones

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Question Posted: Jul 08, 2024 02:06 AM

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E12-4 Adam Meppen withdrew cash of $47.000 for personal use, and Bailey Quaid with- drew cash of

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Accounting

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