Beruflich Dokumente
Kultur Dokumente
Principles
Second Canadian Edition
Weygandt · Kieso · Kimmel · Trenholm
Prepared by:
Carole Bowman, Sheridan College
CHAPTER
13
ACCOUNTING FOR
PARTNERSHIPS
ILLUSTRATION 13-1
PARTNERSHIP CHARACTERISTICS
Association of Individuals
Partnership Form
of Business
Organization
Co-ownership of
Mutual Property
Agency
Sara Ray
King Lee Total
Capital, January 1 $ 28,000 $ 24,000 $52,000
Add: Additional investment 2,000 2,000
Net income 12,400 9,600 22,000
42,400 33,600 76,000
Less: Drawings 7,000 5,000 12,000
Capital, December 31 $ 35,400 $ 28,600 $ 64,000
Partnershi
p Assets
Hello
Partnership
Assets
Partnership
Assets Bye
BONUS TO RETIRING PARTNER
Copyright © 2002 John Wiley & Sons Canada, Ltd. All rights reserved.
Reproduction or translation of this work beyond that permitted by
CANCOPY (Canadian Reprography Collective) is unlawful. Request for
further information should be addressed to the Permissions Department,
John Wiley & Sons Canada, Ltd. The purchaser may make back-up copies
for his / her own use only and not for distribution or resale. The author and
the publisher assume no responsibility for errors, omissions, or damages,
caused by the use of these programs or from the use of the information
contained herein.