Question
Dusit & Tuki Partnership earned $60,000 in net income for the year ended December 31, 2020. Assume Dusit receives 60% of the profits and
Dusit & Tuki Partnership earned $60,000 in net income for the year ended December 31, 2020. Assume Dusit receives 60% of the profits and Tuki receives 40%. After crediting net income to the income summary account. The journal entry to adjust partners' capital accounts for their share of net income will include a: Select one: a. Debit to Tuki, Capital for $30,000 b. Debit to Dusit, Capital for $36,000 O c. Credit to Tuki, Capital for $24,000 d. Credit to Income Summary for $60,000
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