amberlove2001 amberlove2001

11-10-2022
Business

Answered

Keith and Jim formed a partnership, with the partners sharing profits and losses equally. The partnership incurs a net
loss of $8,000 for the year. The entry to close the net loss will
OA. decrease Jim, Capital by $8,000
B. decrease Keith, Capital by $4,000
C. debit Income Summary by $8,000
D. increase Jim, Capital by $4,000

Answer :

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