Raul and Bianca are partners, Raul has a capital balance of $45,000 and Bianca has a capital balance of $36,000. Bianca sells half of her ownership interest to Bill for $20,000. which of the following is true of the journal entry to record this transaction?
A. Bill Capital is credited for $20.000 and Raul, Capital is debited for $20,000
B. Bill. Capital is credited for $18,000 and Bianca Capital is debited for $18.000
C. Bianca, Capital is credited for $20,000 and Raul, Capital is debited for $20.000.
D. Bianca Capital is credited for $18,000 and Raul, Capital is debited for $18,000
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Raul and Bianca are partners, Raul has a capital balance of $45,000 and Bianca has a capital balance of $36,000. Bianca sells half of her ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
When Fisher first arrived at Kodak, he created a strategic initiative at the intersection of a strength and a clear opportunity to use it, what was the intersection?
Answers (1)
use the total revenue test to determine whether the demand for home heating oil is elastic or inelastic and why
Answers (1)
Choose the best answer to helena's question. "i want to expand our social media presence, engaging our customers on their preferred platforms in a cost-effective manner.
Answers (1)
What question should someone ask themselves before taking a job
Answers (1)
Hannah is the ceo of jf corp., a steel manufacturing company. she finds that the market is exhibiting the signs of a maturing market. she wants to revise the compensation package for her sales employee to adapt to the changing market conditions.
Answers (1)
New Questions in Business
Tirri Corporation has provided the following information: Cost per UnitCost per Period Direct materials$7.35 Direct labor$3.55 Variable manufacturing overhead$1.40 Fixed manufacturing overhead $24,100 Sales commissions$1.
Answers (1)
A what type of budget is a type of financial report that scrutinizes the inflow and outflow of money in a given financial year
Answers (1)
Barton Industries has operating income for the year of $3,500,000 and a 36% tax rate. Its total invested capital is $20,000,000 and its after-tax percentage cost of capital is 8%. What is the firm's EVA?
No Answers
Rob purchased a standard whole life policy with a $500,000 death benefit when he was age 30. his insurance agent told him the policy would be paid up if he reached age 100. the present cash value of the policy equals $250,000.
Answers (1)
On June 1, Davis Inc. issued an $84,000, 5%, 120-day note payable to Garcia Company. Assume that the fiscal year of Garcia ends June 30.
Answers (2)