Option D is related to this 12-5 exercise.

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 Attempt 1 of 3 used Compute the partners' ending capital balances under the assumption in part (c) above. Ending capital Cobum Webb Click if you would like to show Work for this question: een Show. Work LINK TO TEXT Attempts of used VERT SUBMIT ANSWER sy Policy . 2000-2019 bis Sons, Inc. All v (0) Your answer is correct Assume the partnership income-sharing agreement calls for income to be divided with a salary of $40,000 to Coburn and $35,000 to Webb, interest of 12% on beginning capital, and the remainder divided 50%-50%. 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.) Account Tities and Explanation Debit Credit T Income Summary 0 7 5000 38860 Coburn, Capital Webb, Capital 36140 Click if you would like to Show Work for this questioni Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT