Fabulous Partnership Balance Sheet Format

One of our partner has asked to give him Balance Sheet for last 30 years.

Partnership balance sheet format. Income Statement For The Year Ended 30 June 2009 RM Revenue 595000 Cost of sales -195490 Gross profit 399510 Other operating income Interest income 2560 Distribution administrative and other expenses Carriage outward - 25897 Advertising and promotions. At the end the subtotals for these two sections are added together. The right hand side of the balance sheet is further divided into two sections which are the liability section and the owners equity section.

Partnership Accounting379 Saar Loretto and Abdullah Accountants Balance Sheet December 31 20XX Assets Cash 8000000 Other Assets 5000000 Total Assets 13000000 Liabilities. The Partnership will separately present purchases sales issuances and settlements in their reconciliation of Level 3 fair value measurements ie. The following balance sheet was prepared on December 31 before adjusting and closing entries for the year had been prepared.

Short-term assets mainly refer to the inflow of cash receivable accounts while the long-term assets include company investments cost of property and all the intangible assets that dont require tax deductions. A withdrawal account is used to track the amount taken. Trial balance as on June 30 2002.

And Abdullah invested 40000 cash in their accounting firm. At the end of Year 2 Partners A and Bs ending capital account balances are 240 and 300 respectively. Write up the partners current accounts for the year ended 31 March 20X3 3 marks 12 marks in total.

The current accounts of each partner net of drawingsiii Appropriation of Net Profits in Partnerships. A Prepare the partnerships trading and income statement and statement of division of profit for the year ended 31 March 20X3 9 marks b. Books on June 30 2002.

Instructions for a Sole Proprietorship or a Partnership Balance Sheet. The assets are listed on the left hand side whereas both liabilities and owners equity are listed on the right hand side of the balance sheet. All the assets either they are long term assets or current or short term are listed in balance sheet format so that the progress of the company may judge by the owners.