Formation:

Loan, capital share, FMV @1st day, addtl investments

Operations:

Trial Balance with incomplete data. Given working capital

Prior period errors, 3 years of operation w/ changes in P/L Distribution Plan.

1.Sales, COS, AE, Advertising, Sales Commission, Unearned Revenue, Accrued Revenue, Prepaid Expenses, Accrued Expenses, Accumulated Depreciation, Inventory. Table on Capital transactions.

P/L Distribution PLANS (all of them)

2.Beg, Withdrawals, Investment, Average capital.

P/L Distribution plan w/ interest on ending capital balance.

3.Bonus base variations (Bonus to 2 partners with different bases)

4.Prior period error. P/L distribution Plan

5. Bonus base variations (Bonus to 2 partners with different bases), Interest in excess of, in excess of residual profit, If net income after deducting the interest and salary allocations is greater than $20,000, Carnes receives a bonus of 5% of the original amount of net income.

Liquidation:

Admitted a limited partner