Accounting 2- 5/16/08
Objectives
-
Define accounting terms related to financial statements for a merchandising business organized as a partnership.
-
Identify accounting concepts and practices related to financial statements for a merchandising business organized as a partnership.
-
Prepare a distribution of net income statement and an owner’s equity statement for a merchandising business organized as a partner ship.
I. Bellwork
A. Page 415 Terms and 1-3 Q & A
II. 16-3 Distribution of Net Income and Owners Equity Statements
A. Pages 410-414
- Preparing a Distribution on Net Income Statement
- Distribution of Net Income Statement with Unequal Distribution of Earnings
- Partners Capital and Drawing Accounts
- Owners Equity Statement
- Owners Equity Statement with an Additional Investment and Net Loss
III. Review – 16-3 PPT
IV. Classwork
A. Page 415 WB pages 371-372 (You need 16-1 stuff wb pgs 365-368) I gave it back and it is in the paper bin