$$ Explain what the operations of a company are like and how profits and losses are distributed to the partners.

$$ Prepare the accounting books and financial statements of a company.

$$ Explain the process of dissolution, termination, and liquidation of a company.

$$ Record the initial investment of a new partner and the withdrawal of a partner.

$$ Distribute the income of the partnership and prepare the capital statement of the partners.

$$ Distribute the company's income based on initial and final balances and capital averages.

$$ Prepare a simple settlement and cash on hand diagram.