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LESSON 23-2

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

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LESSON 23-2

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  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

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