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Lesson 23 1
- 1. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 23-1LESSON 23-1
Forming a Partnership
- 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
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
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
LESSON 23-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
TERMS REVIEWTERMS REVIEW
partnership
partner
partnership agreement
page 679
- 6. 5
LESSON 23-1CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
TERMS REVIEWTERMS REVIEW
partnership
partner
partnership agreement
page 679