Question
The partnership of Bher and Dhillips reports net income of $120,000. The partners share equally in income and losses. The entry to record the partners'
The partnership of Bher and Dhillips reports net income of $120,000. The partners share equally in income and losses. The entry to record the partners' share of net income will include a:
| credit to Bher, Capital for $60,000. |
|
| credit to Dhillips, Drawing for $60,000. |
|
| credit to Income Summary for $120,000. |
|
| debit to Dhillips, Capital for $60,000. |
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The Partnership And Alliances Audit
Authors: David Connell, Peter J. LaPlaca, Kenneth Wexler
1st Edition
1907766065, 978-1907766060
