Question 5 The only inventory method that calculates the actual cost of each ending inventory item is specific identification. weighted average. FIFO (first-in; first-out). LIFO (first-in:first-out). Next 2.5 PL Adam James and Jane Smith are partners. The entry to distribute a net loss to both partners is debit, Adam James, Drawing; debit, Jane Smith, Drawing credit, Income Summary debit, Income Summary; credit, Adam James, Capital; credit, Jane Smith, Capital. debit, Adam James, Capital; debit, Jane Smith, Capital; credit Income Summary. debit, Income Summary, credit, Adam James, Drawing; credit, Jane Smith, Drawing Next Question 7 To record the issuance of common stock for cash at par: debit, Common Stock; credit, Cash. debit, Par Value Common Stock; credit, Cash. debit, Cash; credit, Common Stock. debit, Cash; credit, Common Stock; credit, Paid-in-Capital Par Value. Question 8 An increase change in Accounts Receivable during the year indicates no change in cash received. decrease in cash received. increase in cash received either an increase or decrease depending upon the situation