accounting for partnerships A+ Writers |

You are an employee of a full service bookkeeping and auditing firm called Accounting Solutions. Your previous clients P. Rose, S. Flowers and R. Tulip recently dissolved their partnership and reformed as Coopie Awards, Inc. For this exercise, you will address the following:

  1. Journalize entries for forming a partnership, admitting a partner, distributing net income and dissolving the partnership.
  2. Complete a liquidating worksheet.

Use this Module 06 Excel template for completing the partnership tasks. Information for each task is given on the template. Use Excel formulas in the cells when calculations are needed.