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erastova [34]
3 years ago
6

When a partnership is liquidated, the journal entry to pay the claims of creditors would include a debit to

Business
1 answer:
spayn [35]3 years ago
4 0
When a partnership is liquidated, the journal entry to pay the claims of creditors would include a debit to:

B.) each individual creditor and a credit to cash.

When you liquidate a partnership, liabilities must be paid off before partner's investments can be returned to them. In this way, all creditors will be satisfied even if the partner's capital experienced a loss.
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The contingency theory of leader assumed that there are two kinds of leaders: TASK ORIENTED AND RELATIONSHIP ORIENTED LEADERS. A task oriented leader is one who is most concerned about getting jobs done than with the feeling of and relationship among his team. A relationship oriented leader is one who is primarily concerned with the feelings of his team members and their relationships with one another.
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When a government collects more revenue in one year than it spends, there is a budget?
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Which of these is a pro of being a wage earner? A. You usually do not get to choose which projects you work on. B. You have a de
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Answer:

The correct answer is letter "C": You are usually not in charge.

Explanation:

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The journal entry for the purchase of inventory on account using the perpetual inventory system is
alexandr1967 [171]

Answer:

D. Merchandise Inventory xxx

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The Journal Entry is shown below:-

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Therefore inventory is purchased so it will increasing assets, it is debited while accounts payable is increasing liabilities so it is credited.

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What are the pros and cons of the JIT Strategy in company’s operation ?
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Answer:

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