Financial Statements

Statement of Comprehensive Income

Partnership Name
Partial Income Statement
For the Year Ended

Profit Pxx

Division of Profit (equally):

Partner X Pxx
Partner Y Pxx
TOTAL Pxx

Statement of Changes in Equity

Partnership Name
Statement of Changes in Partners’ Equity
For the Year Ended

X Y Total
Original Investments Pxx Pxx Pxx
Add: Additional Investments Pxx - Pxx
Total Pxx Pxx Pxx
Less: Permanent Withdrawals Pxx Pxx
Balances Pxx Pxx Pxx
Add: Profit Pxx Pxx Pxx
Total Pxx Pxx Pxx
Less: Temporary Withdrawals Pxx Pxx Pxx
Partners’ Equity, Dec. 31 Pxx Pxx Pxx
Income Statement
Partnership Name
Statement of Financial Performance
For the Year Ended

Sales Pxx
Less: Cost of Sales Pxx
Gross Profit Pxx
Less: Operating Expenses
X Expenses Pxx
Y Expenses Pxx
Z Expenses Pxx Pxx
Net Profit Pxx

Share profits in the ratio ____

Therefore,
x- y- z-

Balance Sheet

Partnership Name
Statement of Financial Position
For the Year Ended

ASSETS
Cash Pxx
Accounts Receivable Pxx
Merchandise Inventory Pxx
Prepaid Rent Pxx
Prepaid Insurance Pxx
TOTAL ASSETS Pxx

LIABILITIES
Accounts Payable Pxx
Notes Payable Pxx
TOTAL LIABILITIES Pxx

PARTNERS’ EQUITY
X, Capital Pxx
Y, Capital Pxx
TOTAL PARTNERS’ EQUITY Pxx