INSTRUCTIONS: Prepare a Statement of Changes in Partner's Capital for a partnership. Write your answer to your columnar notebook. SUMANDA, CENTENO, WALICAN PARTNERSHIP Trial Balance August 31, 2016 Cash Supplies on hand Office equipment Furniture and fixtures Accumulated depreciation Sumanda, Capital Centeno, Capital Walican, Capital Sumanda, Drawings Centeno, Drawings Walican. Drawings Service Income Interest Income Advertising expense Depreciation expense Light and water expense Salaries, wages & benefits Rent expense Representation expense Telephone expense Transportation expense Additional details: DEBIT 432,200 15,440 98,375 65,430 20,000 55,000 30,000 23,430 18,200 123,200 880,000 240,000 53,430 67,600 55,600 CREDIT 27,300 100,165 100,165 100,165 1,845,000 5,110 1. January 1, 2016 capital balance is $ 150,495. 2. Additional capital investment of each partner was 50,000 for a total of 150,000. 3. The partners share profit or loss equally.

INSTRUCTIONS: Prepare a Statement of Changes in Partner's Capital for a partnership. Write your answer to your columnar notebook. SUMANDA, CENTENO, WALICAN PARTNERSHIP Trial Balance August 31, 2016 Cash Supplies on hand Office equipment Furniture and fixtures Accumulated depreciation Sumanda, Capital Centeno, Capital Walican, Capital Sumanda, Drawings Centeno, Drawings Walican. Drawings Service Income Interest Income Advertising expense Depreciation expense Light and water expense Salaries, wages & benefits Rent expense Representation expense Telephone expense Transportation expense Additional details: DEBIT 432,200 15,440 98,375 65,430 20,000 55,000 30,000 23,430 18,200 123,200 880,000 240,000 53,430 67,600 55,600 CREDIT 27,300 100,165 100,165 100,165 1,845,000 5,110 1. January 1, 2016 capital balance is $ 150,495. 2. Additional capital investment of each partner was 50,000 for a total of 150,000. 3. The partners share profit or loss equally.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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