The distribution of profits is recorded by debiting the profit and loss account and crediting the partners' capital accounts.

The correct entry for distributing profits is to debit the profit and loss account and credit the partners' capital accounts.

The correct entry is to debit the Asset Account for the increase in value and credit the Revaluation Surplus.

The revaluation of assets is recorded by debiting the revaluation account and crediting the respective asset account.

The correct entry is to debit Accounts Receivable to recognize the amount owed and credit Sales Revenue to record the sale.

The correct entry for the sale of inventory at a profit is to debit Cash and credit Sales Revenue.

The correct entry is to debit the Capital Account of the partner and credit Cash for the amount withdrawn.

To write off an uncollectible account, Bad Debt Expense is debited to recognize the loss, and Accounts Receivable is credited to remove the uncollectible amount.

The correct entry is to debit Cash and credit Sales Revenue, reflecting the increase in cash and revenue from the sale.

The correct entry is to debit Accounts Receivable and credit Sales to reflect the sale on credit.

Accrued expenses are recorded by debiting the expense account and crediting Accounts Payable.

The correct entry is to debit Depreciation Expense and credit Accumulated Depreciation to reflect the expense.

The correct entry is to debit Depreciation Expense to recognize the expense and credit Accumulated Depreciation to reduce the asset's book value.

When a new partner is admitted, the firm usually receives cash, which is debited to Cash, and the corresponding credit is made to the Capital Account of the new partner.

When a new partner is admitted and brings in cash, the cash account is debited and the partner's capital account is credited.

When a new partner is admitted, the cash contributed by the new partner is debited to the cash account and credited to the capital account.

The correct entry is to debit Cash and credit the Partner's Capital Account to reflect the capital contribution.

The correct entry is to debit Cash and credit the Partner's Capital Account to reflect the capital contribution.

The correct entry to record depreciation expense is to debit Depreciation Expense and credit Accumulated Depreciation.

The correct entry is to debit the Profit and Loss Account and credit the Partner's Capital Accounts.

The correct entry is to debit Cash and credit the Partner's Capital Account to reflect the contribution.

The correct entry is to debit Cash and credit the Capital Account to reflect the partner's contribution.

The correct entry is to debit the Profit and Loss Account and credit the Partner's Capital Accounts to distribute profits.

The correct entry is to debit Inventory to increase it and credit Accounts Payable to reflect the liability.

The correct entry is to debit Cash to increase it and credit Sales Revenue to recognize the income.

The correct entry is to debit Cash and credit Sales Revenue, reflecting the cash received from the sale.

The main advantage of the Units of Production Method is its accuracy in matching expenses to revenues based on actual usage.

The main advantage of NPV is that it provides a clear dollar value of the profitability of a project.

The Units of Production Method matches the expense of depreciation with the actual usage of the asset, providing a more accurate reflection of the asset's contribution to revenue.

The units of production method matches the depreciation expense with the actual usage of the asset, providing a more accurate reflection of its wear and tear.