Sharp and Townson had capital balances of $60,000 and $120,000, respectively, on January 1 of the current year. On May 8, Sharp invested an additional $10,000 in the partnership. During the year, Sharp and Townson withdrew $25,000 and $45,000, respectively. The revenue account at the end of the year had a balance of $600,000, and the expense account had a balance of $510,000. Sharp and Townson have agreed to split net income on a 2:1 basis. Required:
a. Journalize the entries to close the income summary account and the drawing accounts.
b. Prepare the statement of owner's equity for the current year.

The revenues of a company increased by 39% in year one and decreased 22% in year two. what is the overall change over the two-year period?

How does the economy of cuba differ from the economy of north korea? in north korea, the government’s control of the economy has begun to loosen. in cuba, the government maintains a tight hold over the economy. in cuba, the government’s control of the economy has begun to loosen. in north korea, the government maintains a tight hold over the economy. in north korea, there is economic uncertainty in exchange for individual choice. in cuba, there is economic security in exchange for government control. in cuba, there is economic uncertainty in exchange for individual choice. in north korea, there is economic security in exchange for government control.\

Emily spent her summer vacation in buenos aires, argentina, where she got plastic surgery for a fraction of what it would cost in the united states. this is an example of: