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FORMAT FOR BALANCE SHEET
The non current assets, current assets and current liabilities sections remain identical to those of a sole proprietorship. However, the “capital section will change to reflect the capital contribution by each partner..Example of a balance sheet where there are 3 partners A, B and C.
Cost (Shs)
Depreciation (Shs)
NBV (Shs)
Land & Buildings
X
Fixtures & Fittings
Plant & Machinery
Motor Vehicles
XX
Investments, goodwill etc
Inventory
Receivables
Less provision for bad and doubtful debts
(X)
Prepayments
Bank
Cash
Payables
Accruals
Working capital (C.A – C.L)
Financed by:
Capitals: A
B
C
Current A/Cs: A
Long term loans
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Relationship between these aspects is set out in Figure. Figure: The accounting information system There are four sequential stages of an
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Oswald Corporation reported the following information on operations for 2009: Revenue = $2,000 Cost of goods sold = $850 Operating expenses =$395 Depreciation =$248
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Q. Report to stockholders of a company? Annual Report - Report to stockholders of a company that includes company's annual,audited BALANCE SHEET and related statements of earni
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