Professional Documents
Culture Documents
To Record Partner's Interest and Salary
To Record Partner's Interest and Salary
Cash 400,000
Income and expense Summary 400,000
Cash 500,000
Income and expense Summary 500,000
To record adjustment
1-Jan Computer Equipment 10,000
Al, Capital 4,000
Dub, Capital 4,000
Nation, Capital 2,000
Payment of liabilities
1/1/2021 Liabilities 250,000
Cash 250,000
Distribution to partners
1/1/2021 Al, Capital 158,719
Dub, Capital 671,281
Nation, Capital 307,500
Forever, Capital 512,500
Cash 2,050,000
Final Settlement
1/1/2021 Al, Capital 231,000
Dub, Capital 231,000
Nation,Capital 115,500
Forever, Capital 192,500
Cash 770,000