Title: Module 3 Introduction: (CU4 M3)
Course: SkillsCom BA 112 16.0 > Section: Credit Unit 4 Module 3

This Module covers accounting for partnerships.

Module Outcomes:

- Understanding characteristics and formation of a partnership, and journaling the entry for formation of a partnership.
- Calculating a partner’s share of net income based on fractional ratio, beginning capital investment, and salary and interest allowances.
- Preparing a statement of partner’s equity.
- Journalizing entries to record admitting a new partner, withdrawal of a partner, and bonuses to partners.
- Journalizing entries involved in the liquidation process and preparing a statement of liquidation.