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Question 19 2 points Saved JOURNAL ENTRIES: A, B and Care partners with capital balances of $40000 (forty thousand dollars) each. The three partners share
Question 19 2 points Saved JOURNAL ENTRIES: A, B and Care partners with capital balances of $40000 (forty thousand dollars) each. The three partners share income and losses in the ratio of 1:1:1. A withdraws from the partnership. What is the entry if A is paid $100,000 in partnership cash for his equity? a. Dr. Cash 100,000; Cr. A, Capital 100,000 b. Dr. A, Capital 100,000; Cr. Cash 100,000 c. Dr. A, Capital 40,000, Dr. B, Capital 30,000, Dr. C, Capital 30,000; Cr Cash 100000 d. Dr Cash 100000; Cr. A, Capital 40,000, Cr. B, Capital 30,000, Cr. C, Capital 30,000 e. None of the above Question 20 FINANCIAL RATIOS: Which financial ratio is defined as net income divided by net sales revenue? a. Days' sales in receivables b. Current ratio c. Times interest earned ratio d. Profit margin ratio e. None of the above
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