At the end of 2020, Vaughn Manufacturing made four adjusting entries for the following items: 1. Depreciation expense, $25500.
2. Expired insurance, $2140 (originally recorded as prepaid insurance.)
3. Interest payable, $6500.
4. Rent receivable, $11000.

In the normal situation, to facilitate subsequent entries, the adjusting entry or entries that may be reversed is (are) :

a. Entry No. 3 only.
b. Entry No. 3 and No.
c. Entry No. 2, No. 3 and No. 4.
d. Entry No. 4 only.

The partnership of douglas, ryan, and ellen has dissolved and is in the process of liquidation. on july 1, 2016, just before the second cash distribution, the assets and equities of the partnership along with profit and loss sharing ratios were as follows: cash $30,000receivable - net $20,000inventories $25,000equipment - net $30,000total assets $80,000liabilities $12,000douglas, capital (20%) $28,000ryan, capital (50%) $24,000ellen, capital (30%) $16,000total liab./equity $80,000assume that the available cash is distributed immediately, except for a $2,000 contingency fund that is withheld pending complete liquidation of the partnership. how much cash should be paid to each of the partners? a. $3,200 douglas, $8,000 ryan, $4,800 ellenb. $5,600 douglas, $14,000 ryan, $8,400 ellenc. $16,000 douglas, $0 ryan, $0 ellend. $8,000 douglas, $0 ryan, $8,000 ellen