Learning Objectives are classified as conceptual, analytical, or procedural.
After completing this chapter you should be able to: Conceptual C1 Identify characteristics of partnerships and similar organizations.
Analytical A1 Compute partner return on equity and use it to evaluate partnership
performance.
Procedural P1 Prepare entries for partnership formation. P2 Allocate and record income and loss among partners. P3 Account for the admission and withdrawal of partners. P4 Prepare entries for partnership liquidation. |