CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

LESSON 23-2LESSON 23-2

Distribution of Net Income and Owners’ Equity Statements

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

2

LESSON 23-2

DISTRIBUTION OF NET INCOME DISTRIBUTION OF NET INCOME STATEMENTSTATEMENT

11

2233

4455

66

page 680

1. Heading

4. Second partner’s name

3. First partner’s share of net income

2. First partner’s name

5. Second partner’s share of net income

6. Write Net Income7. Total net income8. Double lines

7788

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

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LESSON 23-2

DISTRIBUTION OF NET INCOME STATEMENT DISTRIBUTION OF NET INCOME STATEMENT WITH UNEQUAL DISTRIBUTION OF EARNINGSWITH UNEQUAL DISTRIBUTION OF EARNINGS page 681

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

4

LESSON 23-2

PARTNERS’ CAPITAL AND DRAWING PARTNERS’ CAPITAL AND DRAWING ACCOUNTSACCOUNTS page 682

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

5

LESSON 23-2

5. Second partner’s ending capital

3. First partner’s ending capital

2. First partner’s name

6. Total Owners’ Equity

4. Second partner’s name

7. Double lines

OWNERS’ EQUITY STATEMENTOWNERS’ EQUITY STATEMENT page 683

11

22

3344

5566

1. Heading

77

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

6

LESSON 23-2

OWNERS’ EQUITY STATEMENT WITH AN OWNERS’ EQUITY STATEMENT WITH AN ADDITIONAL INVESTMENT AND A NET LOSSADDITIONAL INVESTMENT AND A NET LOSS page 684

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

7

LESSON 23-2

BALANCE SHEET FOR A PARTNERSHIPBALANCE SHEET FOR A PARTNERSHIP page 684

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

8

LESSON 23-2

TERMS REVIEWTERMS REVIEW

distribution of net income statement owners’ equity statement

page 685