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tresset_1 [31]
3 years ago
7

Wright, Bell, and Edison are partners and share income in a 2:5:3 ratio. The partnership's capital balances are as follows: Wrig

ht, $33,000, Bell $27,000 and Edison $40,000. Edison decides to withdraw from the partnership, and the partners agree not to revalue the assets upon Edison's retirement. The journal entry to record Edison's June 1 withdrawal from the partnership if Edison is paid $40,000 for his equity is:
Business
1 answer:
Arte-miy333 [17]3 years ago
5 0

Debit Edison, capital $40,000 ; Credit Whitney,capital $40,000

Explanation: There are three golden rules for accountancy out of which for this provided question, the accounting rule is applied as follows:

Debit the receiver and credit the giver.

The reason why this entry is applicable  because capital account is personal account and company's capital account  is making the payment to Edison.

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Development, Structure and powers of U.S constitution and Arizona constitution have a huge comparison.

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The common terms,' we the people' all constitutions begin with, but include many different things. After all, there were certain differences between one condition and another for a set of fifty.

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They both mention the theme of religious liberty, one of the most valuable values in our society. Eventually, both inspire their lawmakers to negotiate with them.

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3 years ago
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Answer:

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<h3>What is the relationship between the MC and ATC curves?</h3><h3 />

The data given by the table (which is accurately filled up) shows that the MC curve will intersect the ATC curve at its lowest point.

We see this from the fact that before the lowest ATC of 0.107, the marginal cost was less than the ATC. After the lowest ATC however, the marginal cost becomes higher than the ATC.

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Find out more on the MC curve at brainly.com/question/9335427.

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