1 / 8

Understanding the Distribution of Net Income and Owners' Equity Statements in Partnerships

This lesson outlines the key components of the distribution of net income and owners' equity statements within a partnership. It provides a clear structure for recording each partner's share of net income, partner names, and total net income on the distribution of net income statement. Furthermore, it covers the owners' equity statement, detailing individual partner capital accounts and any additional investments or net losses. By grasping these concepts, students can effectively analyze and report partnership financial information.

gail-martin
Télécharger la présentation

Understanding the Distribution of Net Income and Owners' Equity Statements in Partnerships

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. LESSON 23-2 Distribution of Net Income and Owners’ Equity Statements

  2. DISTRIBUTION OF NET INCOME STATEMENT page 680 1 2 3 4 5 6 7 8 5. Second partner’s share of net income 1. Heading 2. First partner’s name 6. Write Net Income 3. First partner’s share of net income 7. Total net income 8. Double lines 4. Second partner’s name LESSON 23-2

  3. DISTRIBUTION OF NET INCOME STATEMENT WITH UNEQUAL DISTRIBUTION OF EARNINGS page 681 LESSON 23-2

  4. PARTNERS’ CAPITAL AND DRAWING ACCOUNTS page 682 LESSON 23-2

  5. OWNERS’ EQUITY STATEMENT page 683 1. Heading 1 2. First partner’s name 2 3. First partner’s ending capital 4. Second partner’s name 3 4 5. Second partner’s ending capital 5 6. Total Owners’ Equity 6 7 7. Double lines LESSON 23-2

  6. OWNERS’ EQUITY STATEMENT WITH AN ADDITIONAL INVESTMENT AND A NET LOSS page 684 LESSON 23-2

  7. BALANCE SHEET FOR A PARTNERSHIP page 684 LESSON 23-2

  8. TERMS REVIEW page 685 • distribution of net income statement • owners’ equity statement LESSON 23-2

More Related