Required:
1. Complete the worksheet
2. .Balance Sheet in report form
3. income statement
4. statement of partner's equity
Adjustments 1. Amount of Merch Inv, end , 40,000 2.5% of A/R is estimated to be uncollectible 3. Supplies unused, 2,000 4.6,100 of Unearned Commission is already earned 5. Annual Dep'n rate is 10% 6. Income Tax Rate is 32% Among other things, the partnership agreement states that the distriributuin of T and L are as follows: a, in Eterest at 5% on beg capital balance b. monthly salaries allowances of 1,500 - A, 2,500-W c. the remainder is divided equally Requirememnts 1. Worksheet 2. Blance Sheet in report form 3. income stATEMENT 4. statement of partner's equity Worksheet For the year ended, Dec 31, 2000 Adjustments Balance Sheet Income Statement Adjusted Trial Balance Debit Statement of Partners Equity Debi Debit Credit Credit Credit Credit Crede Debat Dabil Trial Balance Particulars Debit Credit Cash P25,000.00 AJR 170,000.00 Merch In. (Jan 12 44,000.00 Supplies Unused 8,000.00 Furniture and Fixt 310,000.00 Acc. Depin - F&F P 31,000.00 AP 38,000.00 Uneurned Commissions 11,100.00 Mortgage Payable 10,000.00 A Capital 140,000.00 W. Capital 175,500.00 A Drawing 4,000.00 W.Drawing 4,000 00 Sales 500.000.00 SRA 20 000 00 Purchases 196 000 00 Freight in 4 000 00 Purchase Raum Allowinces 7.800.00 Salaries Expo 65.400 00 Advertising Expert 20 000.00 Insurance Expo 7.000.00 Rent Expense 35 000.00 leterest Expens 2.000.00 1 000.00 914 400 DO 914.400 00 Worksheet For the year ended. Dec 31, 2000 Adjustments Adjusted Trial Balance Income Statement Balance Sheet Statement of Partner's Equity Debat Credit Debit Credit Debit Credit Debit Credit Debil Cres Trial Balance Particulars Debit Credit Cash P 25.000.00 AJR 170,000.00 Merch Inv. (Jan 12 44,000.00 Supplies Unused 8,000.00 Furnitures and Foxt 310,000.00 Acc. Dep'n - F&F P 31,000.00 AJP 38,000.00 Uneamed Commissions 11,100.00 Mortgage Payable 10,000.00 A Capital 140.000.00 W. Capital 175 500.00 A Drawing 4,000.00 W.Drawing 4,000.00 Sales 500,000.00 SRA 20,000.00 Purchases 196.000.00 Freight in 4,000.00 Purchase Return Allowances 7,800.00 Salaries Expanse 65 400.00 Advertising Expens 20.000.00 Insurance Expo 7.000.00 Ront Expeno 35.000.00 Interest Expense 2.000.00 Internet income 1.000.00 914.40000 914,400.00 Adjustments 1. Amount of Merch Inv, end , 40,000 2.5% of A/R is estimated to be uncollectible 3. Supplies unused, 2,000 4.6,100 of Unearned Commission is already earned 5. Annual Dep'n rate is 10% 6. Income Tax Rate is 32% Among other things, the partnership agreement states that the distriributuin of T and L are as follows: a, in Eterest at 5% on beg capital balance b. monthly salaries allowances of 1,500 - A, 2,500-W c. the remainder is divided equally Requirememnts 1. Worksheet 2. Blance Sheet in report form 3. income stATEMENT 4. statement of partner's equity Worksheet For the year ended, Dec 31, 2000 Adjustments Balance Sheet Income Statement Adjusted Trial Balance Debit Statement of Partners Equity Debi Debit Credit Credit Credit Credit Crede Debat Dabil Trial Balance Particulars Debit Credit Cash P25,000.00 AJR 170,000.00 Merch In. (Jan 12 44,000.00 Supplies Unused 8,000.00 Furniture and Fixt 310,000.00 Acc. Depin - F&F P 31,000.00 AP 38,000.00 Uneurned Commissions 11,100.00 Mortgage Payable 10,000.00 A Capital 140,000.00 W. Capital 175,500.00 A Drawing 4,000.00 W.Drawing 4,000 00 Sales 500.000.00 SRA 20 000 00 Purchases 196 000 00 Freight in 4 000 00 Purchase Raum Allowinces 7.800.00 Salaries Expo 65.400 00 Advertising Expert 20 000.00 Insurance Expo 7.000.00 Rent Expense 35 000.00 leterest Expens 2.000.00 1 000.00 914 400 DO 914.400 00 Worksheet For the year ended. Dec 31, 2000 Adjustments Adjusted Trial Balance Income Statement Balance Sheet Statement of Partner's Equity Debat Credit Debit Credit Debit Credit Debit Credit Debil Cres Trial Balance Particulars Debit Credit Cash P 25.000.00 AJR 170,000.00 Merch Inv. (Jan 12 44,000.00 Supplies Unused 8,000.00 Furnitures and Foxt 310,000.00 Acc. Dep'n - F&F P 31,000.00 AJP 38,000.00 Uneamed Commissions 11,100.00 Mortgage Payable 10,000.00 A Capital 140.000.00 W. Capital 175 500.00 A Drawing 4,000.00 W.Drawing 4,000.00 Sales 500,000.00 SRA 20,000.00 Purchases 196.000.00 Freight in 4,000.00 Purchase Return Allowances 7,800.00 Salaries Expanse 65 400.00 Advertising Expens 20.000.00 Insurance Expo 7.000.00 Ront Expeno 35.000.00 Interest Expense 2.000.00 Internet income 1.000.00 914.40000 914,400.00
