The net income earned by the Cooper, Cross, and Crane partnership is $18,000. Their respective average capital balances are $20,000, $20,000, and $40,000. What is the closing entry to allocate the net income if no agreement was made for division of income?

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The net income earned by the Cooper, Cross, and Crane partnership is $18,000. Their respective average capital balances are $20,000, $20,000, and $40,000. What is the closing entry to allocate the net income if no agreement was made for division of income?

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At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

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A. Debit Income Summary $18,000; credit Cooper’s Capital $6,000; credit Cross’s Capital $6,000; credit Crane’s Capital $6,000 B. Debit Income Summary $18,000; credit Cooper’s Capital $4,500; credit Cross’s Capital $4,500; credit Crane’s Capital $9,000 C. Debit Cooper’s Capital $6,000; debit Cross’s Capital $6,000; debit Crane’s Capital $6,000; credit Income Summary $18,000 D. Net income cannot be allocated
i picked D

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Other answers:

it says no agreement was made for the division of the income meaning they dont know who gets what
rite?
I was thinking a
i did too but idk
try A then
ok

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