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I need the answer for option C). It is related to the problem in the beginning. Exercise 12-5 (Part Level Submission) Coburn (beginning capital, $64,000)
I need the answer for option C). It is related to the problem in the beginning. Exercise 12-5 (Part Level Submission) Coburn (beginning capital, $64,000) and Webb (beginning capital 583.000) are partners. During 2017, the partnership camned net income of $75,000, and Coburn made drawings of $19,000 while Webb made drawings of $21,000. Your answer is correct. Assume the partnership income-sharing agreement calls for Income to be divided 45% to Coburn and 55% to Webb. Prepare the journal entry to record the allocation of net income. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Credit Account Tities and Explanation Income Summary Coburn, Capital dy Webb, Capital Click if you would like to show Work for this questioni Open Show Work SHOW SOLUTION SHOW ANSWER Attempts: 1 of 3 used (b) Your answer is correct. Assume the partnership income-sharing agreement calls for income to be divided with a salary of $31,000 to Coburn and $25,000 to web, with the remainder divided 45 to Cobum and 55% to Webb. Prepare the journal entry to record the allocation of net income. (Credit accounties are automatically indented when amount interd. Det ladent manually.) Credit Debit Account Tities and Explanation Income Summary Coburn, Capital 1 Webb, Capital Click if you would like to show Work for this questioni Open Show Work SHOW SOLUTION SHOW
I need the answer for option C). It is related to the problem in the beginning.
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