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Accounting for Partnership.

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Requirements: Do only the section highlighted in Green for this module. The rest of this exercise will be completed in module 10, so please save your worksheet.;Review assets and liabilities of each partner and their market values in the following Excel Template, then;1. Journalize the formation of the partnership. Refer to Module 05 Partnership Formation tab to help with this requirement.;Half way through the first year of operations Conway and Lawrence admit Korman to the partnership.;1. Journalize Korman's admission to the partnership. Refer to Module 05 Partnership Admission tab to help with this requirement.;2. Prepare an income distribution worksheet. Refer to Module 05 Dividing Income Between Partners tab to help with this requirement.;3. Journalize the closing of the income summary accounts to the capital accounts.;THE SECTION HIGHLIGHTED IN YELLOW PART IS THE OTHER HALF OFF ASSIGNMENT. SO PLEASE SEND ME THE FIRST PART THAT IS ABOVE.;THEN SEND ME A SEPRATE EXCEL SPREADSHEET WITH THE BOTTOM PART FILLED IN.;* I SHOULD GET 2 DIFFERENT COPIES FROM YOU*;PLEASE MESSAGE ME IF YOU HAVE QUESTIONS.;After five years of operation Conway, Korma, and Lawrence decide to dissolve their partnership.;1. Complete the liquidating worksheet.;2. Journalize each step of the liquidation.;EXCEL DOCUMENT IS ATTACHED.

 

Paper#79228 | Written in 18-Jul-2015

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