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Monica [59]
3 years ago
9

The net income earned by the cooper, cross, and crane partnership is $18,000. their respective average capital balances are $20,

000, $20,000, and $40,000. what is the closing entry to allocate the net income if no agreement was made for division of income? question 10 options: net income cannot be allocated. debit income summary $18,000; credit cooper's capital $4,500; credit cross's capital $4,500; credit crane's capital $9,000 debit cooper's capital $6,000; debit cross's capital $6,000; debit crane's capital $6,000; credit income summary $18,000 debit income summary $18,000; credit cooper's capital $6,000; credit cross's capital $6,000; credit crane's capital $6,000
Business
2 answers:
lys-0071 [83]3 years ago
6 0
The answer is A)... I am not exactly sure but I did my research so hope this helps! good luck.
MA_775_DIABLO [31]3 years ago
4 0

The answer to your questions is:

Debit Income Summary $18,000; credit Cooper's Capital $6,000; credit Cross's Capital $6,000; credit Crane's Capital $6,000.

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Which of the following has the elements of the supply chain in the correct order?
irina1246 [14]

I believe the answer would be C because first we gather materials like cotton strings ect, then we produce it and make something out of cotton and strings ect, and then we distribute it to retail to get sold and earn money. Hope this helps!

6 0
3 years ago
im was a crook. He embezzled $450,000 from his employer. When his employer found out about his misdeeds, before even conducting
Masja [62]

Answer:

Unless the company is 100% certain that it can prove Jim's misdeeds and has all the evidence to support their accusation, they should have waited for the police to act first before going to the newspaper. If their is the minimum chance that they cannot prove their accusations, Jim might be able to sue them for libel.

5 0
3 years ago
If assets total 45,000, expenses total 10,000, revenues total 35000, and stockholders' equity equals 30,000 what is the amount o
salantis [7]

Answer:

$25,000

Explanation:

Calculation for the what is the amount of net income

Using this formula

Net income= Total Revenues-Total expenses

Let plug in the formula

Net income= 35,000+10,000

Net income=$25,000

Therefore the amount of net income will be $25,000

7 0
3 years ago
Float is important in the cash conversion cycle of a firm because​ ________. A. its presence reduces the investment that a firm
Bad White [126]

Answer:

Option D. Its presence lengthens both a firm's average collection period and its average payment period

Explanation:

The increase in the float, increases the investment in the working capital so the Option A is incorrect

The reason is that it is the time period from the time the cash was deposited in the company's account to the time its was credited due to the payment to the vendors. If the floating time is increased then the collection period and payment period are increased which is the option D and is totally opposite to option B and C.

3 0
3 years ago
(c) how many times larger is the u.s. economy than the ethiopian economy?
Art [367]
To approximate the size of USA in relation to Ethiopia we proceed as follows:
Size of Ethiopia GDP in 2017=$ 76.9x10^9
Size of USA GDP=19.6x10^12
thus the scale factor of USA to Ethiopia will be:
19.6x10^12/76.9x10^9
=254.9
this can be written as a whole number to be
255
the economy of US is 255 times that of Ethipia
3 0
3 years ago
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