Lesson 23 1

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Lesson 23 1

  1. 1. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 23-1LESSON 23-1 Forming a Partnership
  2. 2. 2 LESSON 23-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning INITIAL INVESTMENTS BY OWNERSINITIAL INVESTMENTS BY OWNERS 11 22 33 55 page 676 January 1. Received cash from partner, Sawyer Hess, as an initial investment, $15,000.00. Receipt No. 1. January 1. Received cash, $10,000.00, and office equipment valued at $5,000.00, from partner, Kendra Sullivan, as an initial investment. Receipt No. 2. 4. Write the debit and credit amounts. 44 44 1. Write the date. 5. Write the debits to Cash.2. Write the account titles. 3. Write the receipt numbers.
  3. 3. 3 LESSON 23-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning WITHDRAWAL OF CASH BY PARTNERWITHDRAWAL OF CASH BY PARTNER 11 22 33 44 55 page 677 January 15. Kendra Sullivan, partner, withdrew cash for personal use, $500.00. Check No. 10. 1. Write the date. 2. Write the title of the account debited. 3. Write the check number. 4. Write the debit amount. 5. Write the credit amount.
  4. 4. 4 LESSON 23-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning WITHDRAWAL OF MERCHANDISEWITHDRAWAL OF MERCHANDISE BY PARTNERBY PARTNER page 678 January 15. Sawyer Hess, partner, withdrew merchandise for personal use, $200.00. Memorandum No. 1. 2. Write the account title. 3. Write the memorandum number. 4. Write the debit amount. 5. Write the account title. 1. Write the date. 6. Write the credit amount. 11 22 33 44 55 66
  5. 5. 5 LESSON 23-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning TERMS REVIEWTERMS REVIEW  partnership  partner  partnership agreement page 679
  6. 6. 5 LESSON 23-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning TERMS REVIEWTERMS REVIEW  partnership  partner  partnership agreement page 679

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