The appropriate format of the December 31, 2022 closing entry for John & Hope Limited Liability Partnership, whose two partners had withdrawn their salaries from the partnership during the year, is: A) John, Drawing XXX Hope, Drawing XXX Salaries Payable B) Salaries Expense XXX John, Drawing Hope, Drawing C) John, Capital XXX Hope, Capital XXX Salaries Payable XXX D) John, Capital XXX Hope, Capital XXX John, Drawing Hope, Drawing E) John, Capital XXX XXX XXX XXX XXX XXX

The appropriate format of the December 31, 2022 closing entry for John & Hope Limited Liability Partnership, whose two partners had withdrawn their salaries from the partnership during the year, is: A) John, Drawing XXX Hope, Drawing XXX Salaries Payable B) Salaries Expense XXX John, Drawing Hope, Drawing C) John, Capital XXX Hope, Capital XXX Salaries Payable XXX D) John, Capital XXX Hope, Capital XXX John, Drawing Hope, Drawing E) John, Capital XXX XXX XXX XXX XXX XXX

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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