Rod Dall Co. reports net income of $ 90,00O. The income ratios are Rod 68% and Dall 32%. Indicate the division of net income to each partner, and prepare the entry to distribute the net income. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Rod Dall Co. reports net income of $ 90,00O. The income ratios are Rod 68% and Dall 32%. Indicate the division of net income to each
partner, and prepare the entry to distribute the net income. (Credit account titles are automatically indented when amount is entered. Do
not Indent manually.)
Account Titles and Explanation
Debit
Credit
Transcribed Image Text:Rod Dall Co. reports net income of $ 90,00O. The income ratios are Rod 68% and Dall 32%. Indicate the division of net income to each partner, and prepare the entry to distribute the net income. (Credit account titles are automatically indented when amount is entered. Do not Indent manually.) Account Titles and Explanation Debit Credit
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