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The journal entry if Ahmad and Ali established a new partnership with $60,000 cash divided equally Select one: a. Debit: Ahmed capital 30,000 and Ali
The journal entry if Ahmad and Ali established a new partnership with $60,000 cash divided equally
Select one:
a. Debit: Ahmed capital 30,000 and Ali capital 30,000. Credit: cash 60,000
b. Debit: Ahmed capital 60,000. Credit: Ali capital 30,000 and cash 30,000
c. Debit: cash 60,000. Credit: Ahmed capital 30,000 and Ali capital 30,000.
d. Debit: Ali capital 30,000 and cash 30,000. Credit: Ahmed Capital 60,000
Ahmad an active partner receives an annual Bonus 25% of partnership net income after deducting his bonus
for the year ended 2019 partnership net income before the bonus amounted to 300,000 what Ahmad bonus should be
Select one:
a. 75,000
b. 56,250
c. 62,500
d. 60,000
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