Acct. 12 when accounts payable decrea ses for a given period, what happens to cash flow on that statement? b. Decreases C. no effect Increases it is a noncash transaction 31. P urchasing land by issuing bonds has what effect on cash? a. increases b. c. no effect 2 decreases 32. We lent $35, 000 to a borrower. We would debit what account? a. accounts receivable b. notes receivable c. accounts payable d. . notes payable 33. Corporations generally are chartered by the a. federal government b. state city d. none of the above The entry for a stock split is debit stock split, credit common stock. 34 dehit conmon stock, credit stock split b. c. d. memo entry. none of the above 35. What is the closing entry to record the distribution of profits to two partners at the end of the year? Inc Summary Retained Earnings, T. Doyle Retained Earnings, U. Winster b. Retained Earnings T. Doyle, Capital U, Winster, Capital Income Summary T. Doyle, Capital U. Winster, Capital T. Doyle, Capital U. Winster, capital Income Summary 36. what adengy disadvantage thoerming argeneral partnership? b. double taxation the partnership cannot operate in more than one state dit is very difficult to form a partnership compared to a