Formation:

Loan, capital share, FMV @1st day, addtl investments

Operations:
Trial Balance with incomplete data. Given working capital
Prior period errors, 3 years of operation w/ changes in P/L Distribution Plan.
1.
Sales, COS, AE, Advertising, Sales Commission, Unearned Revenue, Accrued
Revenue, Prepaid Expenses, Accrued Expenses, Accumulated Depreciation,
Inventory. Table on Capital transactions.
P/L Distribution PLANS (all of them)
2.

Beg, Withdrawals, Investment, Average capital.

P/L Distribution plan w/ interest on ending capital balance.

3.

Bonus base variations (Bonus to 2 partners with different bases)

4.

Prior period error. P/L distribution Plan

5. Bonus base variations (Bonus to 2 partners with different bases), Interest in

excess of, in excess of residual profit, If net income after deducting the interest
and salary allocations is greater than $20,000, Carnes receives a bonus of 5% of the
original amount of net income.

Liquidation:
Admitted a limited partner