Aegcc.instructure.com Financial Accounting! - ACC111200 Fwd: "Ch 7 Student Assign Ch 7 Bank reconcilia. Ch. 12 Assignment ernment - PSC101_52> Discussions > Chapter 1 Discussion This is a graded discussion: 20 points possible due Apr Chapter 1 Discussion Are all Americans equally able to become engaged in the government? What factors make it more possible for some people to become engaged than others? What could be done to change this? Respond to at least 2 other students' posts. Search entries or author Unread Subscribed Reply Insert Chart Zoom Requ. 1 to 4 Requ. 5 Add Category Requ. 6 to 7 Gen. Jul. Table Alloc. Trial Before you begin, print out all the pages in this workbook. Part A (2019) Partnership A, B, and is a law firm. You have been engaged as accountant to prepare financial statements for the year ended December 31, 2019. The partnership's trial balance is shown on the "2019 Tr. Bal." page (see tab below). "Salary expenses' listed on the trial balance are each partners' withdrawals for the year. opening capital balances, then Partnership profits are allocated based first on salaries, then on interest on a fixed ratio Salary allocation amounts are: $100,000 $100,000 $160.000 Opening capital balances are: $70,000 $60,000 $70,000 Interest rate is: The fixed ratio is: Required 1 Prepare year-end adjusting entries. No descriptions are necessary 2 Allocate partnership profit or loss to each partner. Prepare the necessary adjusting entry. 3 Post the adjusting entries and complete the trial balance 4 Prepare an income statement and statement of partners' capital for the year ended December 31, 2019 and a balance sheet at December 31. Aegcc.instructure.com Financial Accounting! - ACC111200 Fwd: "Ch 7 Student Assign Ch 7 Bank reconcilia. Ch. 12 Assignment ernment - PSC101_52> Discussions > Chapter 1 Discussion This is a graded discussion: 20 points possible due Apr Chapter 1 Discussion Are all Americans equally able to become engaged in the government? What factors make it more possible for some people to become engaged than others? What could be done to change this? Respond to at least 2 other students' posts. Search entries or author Unread Subscribed Reply Insert Chart Zoom Requ. 1 to 4 Requ. 5 Add Category Requ. 6 to 7 Gen. Jul. Table Alloc. Trial Before you begin, print out all the pages in this workbook. Part A (2019) Partnership A, B, and is a law firm. You have been engaged as accountant to prepare financial statements for the year ended December 31, 2019. The partnership's trial balance is shown on the "2019 Tr. Bal." page (see tab below). "Salary expenses' listed on the trial balance are each partners' withdrawals for the year. opening capital balances, then Partnership profits are allocated based first on salaries, then on interest on a fixed ratio Salary allocation amounts are: $100,000 $100,000 $160.000 Opening capital balances are: $70,000 $60,000 $70,000 Interest rate is: The fixed ratio is: Required 1 Prepare year-end adjusting entries. No descriptions are necessary 2 Allocate partnership profit or loss to each partner. Prepare the necessary adjusting entry. 3 Post the adjusting entries and complete the trial balance 4 Prepare an income statement and statement of partners' capital for the year ended December 31, 2019 and a balance sheet at December 31
