Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
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
Piecemeal Realizations and Distributions Partnership dissolutions may take a substantial number of days even months) so it is unlikely that all cash generated will be simultane
An accountant made the following adjustments at December 31, the end of the accounting period: a. Prepaid insurance, beginning, $400. Payments for insurance during the period, $1,2
Robin Corporation accepted credit cards for $34,200 of services performed in October 2011.The credit card company charged a 3% service fee and paid Robin as soon as it received the
Errors An error is an error discovered in the current financial period but it relates to one or more previous financial periods. Such errors arise due to mathematical mistakes, m
Q. Effect of Additional Debt Finance on Financial Position? Debt finance of $3·2m would raise gearing on a book value basis from 54% to 203% ((1167 + 3200)/2150) which is five
Prepare journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases given below: a. Jackson Corporation
BREACH OF TRUST Remedies available to beneficiary: Injunction, Personal action, Criminal liability. Defence of trusts: He may be relieved from liability if, in the opini
A lawn care company started business on January 1, 2012. The company billed clients $105,000 for lawn care services completed in 2012. By December 31, the company had received $84,
accountability through conceptual framework in australia eassy on this topic with research
limitations of the balance sheet
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd