Alex, Brad, and Carl are partners. The profit sharing rule between them is 3:2:3 in alphabetical order. The partnership incurs a net loss of $ 110 comma 000. The journal entry to close Income Summary will include a . (Do not round any intermediate calculations.)

Alex, Capital account will have a debit balance of $41,250

Explanation:

Partnerships are formed between individuals that come together and pool their resources together to achieve a common goal. They agree to share profits and losses of a business enterprise.

In this case profit sharing is done in a 3:2:3 order.

So for Alex his share of the $110,000 loss will be

Alex's share= (3/3+2+3)*110,000

Alex's share= (3/8)*110,000

Alex's share= $41,250

So this amount will be submitted from Alex's capital account

the answer would be voluntary exchange -

"the act of buyers and sellers freely and willingly engaging in market transactions. moreover, transactions are made in such a way that both the buyer and the seller are better off after the exchange than before it occurred."

hope this : )

-shy

borrow money from the government then pay the government back 5k