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FORMAT FOR BALANCE SHEET
The non current assets, current assets and current liabilities sections remain identical to those of a sole proprietorship. However, the “capital section will change to reflect the capital contribution by each partner..Example of a balance sheet where there are 3 partners A, B and C.
Cost (Shs)
Depreciation (Shs)
NBV (Shs)
Land & Buildings
X
Fixtures & Fittings
Plant & Machinery
Motor Vehicles
XX
Investments, goodwill etc
Inventory
Receivables
Less provision for bad and doubtful debts
(X)
Prepayments
Bank
Cash
Payables
Accruals
Working capital (C.A – C.L)
Financed by:
Capitals: A
B
C
Current A/Cs: A
Long term loans
What are the legal distinctions between a business combination, a merger, and a consolidation? Mergers Vs Acquisitions: When one company takes over another and clearly esta
Short-term Creditors: Bankers and another short-term creditor have an interest same to those of the debenture holders and equity shareholders who are interested in the profitabil
Half secret trusts In this type of trust the will states that the gift is on trust, but the name of the beneficiary is not specified. Since the existence of a trust is disclose
If you inherited $45,000 today and invested all of it in a security that paid a 7 percent rate of return, how much would you have in 25 years?
who to prepar a financial statement
What are features of branch accounts?
Scottsdale Fine Piano%u2019s purchases pianos from a well-known manufacturer and sells them through their retail store. The Baby Grand Pianos sell, on average, for $2,500 each. The
Cost of goods sold minus sales
Uncertainty A gift or disposition not expressive of any definite intention shall be void for uncertainty, i.e A gift under a will fails where there is uncertainty as to:
Loan stock in subsidiary The holding company may also invest in the loan stock of the subsidiary company or part of the loan stock of the subsidiary company. The cost of the loa
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