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

1. Preparing a Distribution on Net Income Statement
2. Distribution of Net Income Statement with Unequal Distribution of Earnings
3. Partners Capital and Drawing Accounts
4. Owners Equity Statement
5. 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

Accounting 2 W2008