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Question 11 5 points Save Answer For partnership Y, if total partners salary allowances are...

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Question 11 5 points Save Answer For partnership Y, if total partners salary allowances are 500,000, total interest on the partners' original capital balances is 100,000, and the remainder of the partnership's net income is 200,000, how much is the total partnership net income? A. 800,000 B. 700,000 C. 300,000 D. 100,000 E. None of the above Question 12 On date of record, what is the journal entry to record a 5,000 cash dividend on common stock? A. Dr. Dividend Payable--Common 5,000; Cr. Retained Earnings 5,000 B. Dr. Retained Earnings 5,000; Cr. Dividend Payable--Common 5,000 C. Dr. Dividend Payable--Common 5,000; Cr. Cash 5,000 D. Dr. Cash 5,000; Cr. Dividend Payable--Common 5,000 E. None of the above

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