Les barrelhouse and Joan Skoye began a new business on February 14 when each of them invested $162,500 in the company. On Dec.20, it was decided that $62,400 of the company’s cash would be distributed equally between the owners. Two cheques for 31,200 were prepared and given to the owners on Dec.23. On Dec.31, the company reported a 124,800 net income. Prepare two sets of journal entries to record the investments by the owners, the distribution of cash to the owners, the closing of the Income Summaryaccount, and the withdrawals or dividends under these alternatives assumptions:
A. The business is a partnership , and
b. The buisiness is a corporation that issued 1,000 common shares
Why work with us?
Authenticity:
All of our papers are authentic, as each paper of ours is composed according to your unique requirements.
Confidentiality:
We value you data. Our company is extremely efficient in guarding the privacy of our clients.
100% Money Back Guarantee:
In the event you cancel your order, you get your money back as soon as possible, we give a 100% refund.
24/7 Support:
Our team members are available via email, live chat, and phone.
Revision Policy:
You can apply for a revision if you think your paper could be better. In this case, your paper will be revised either by the specialist assigned to you or by another writer.
How the Platform Works
- Click on 'Place Your Order' tab on the menu or click on 'Order Now' tab at the bottom and a new order page will appear
- Fill in your requirements depending on your needs under the 'PAPER DETAILS' area
- In the next section, fill in the academic level, required number of pages, paper deadline as provided in the drop-down menus.
- To enter your registration details, click on 'CREATE ACCOUNT & SIGN IN'. This step allows you to create an account with us for purposes of record-keeping. Click on 'PROCEED TO CHECK OUT' at the bottom of the page
- The next section requires you to fill in the payment details. Follow the guided process and soon your order will be available for our team to work on.
