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# Chapter 16 - PowerPoint PPT Presentation

Chapter 16. Financial Statements for Partnerships. Steps that you need to know. Numbers from the worksheet to the Income statement Numbers from the income statement to the Distribution of net income Numbers from the distribution of net income to the Owner’s Equity statement.

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### Chapter 16

Financial Statements for Partnerships

• Numbers from the worksheet to the Income statement

• Numbers from the income statement to the Distribution of net income

• Numbers from the distribution of net income to the Owner’s Equity statement

Comes from the beginning balance of the merchandise inventory account on worksheet

Comes from the ending balance of the merchandise inventory account on the worksheet

• Numbers from the worksheet to the Income statement

• Numbers from the income statement to the Distribution of net income

• Numbers from the distribution of net income to the Owner’s Equity statement

69615.85

423120

423120

360532.68

360532.68

Steps that you need to know textbook

• Numbers from the worksheet to the Income statement

• Numbers from the income statement to the Distribution of net income

• Numbers from the distribution of net income to the Owner’s Equity statement

423420/423120 = 1 or 100% textbook

100%

48.6%

205800/423120 = 48.6%

51.4

217320/423120 = 51.4

205800/423120 = 34.9

34.9

205800/423120 = 48.6%

48.6%

Steps that you need to know textbook

• Numbers from the worksheet to the Income statement

• Numbers from the income statement to the Distribution of net income

• Numbers from the distribution of net income to the Owner’s Equity statement

Distribution of Net Income textbook

We will use these numbers to put them into the owner’s equity statement

Steps that you need to know textbook

• Numbers from the worksheet to the Income statement

• Numbers from the income statement to the Distribution of net income

• Numbers from the distribution of net income to the Owner’s Equity statement

Steps that you need to know textbook

• Numbers from the worksheet to the Income statement

• Numbers from the income statement to the Distribution of net income

• Numbers from the distribution of net income to the Owner’s Equity statement

Order of Financial Sheet textbook

• Income Statement

• Distribution of Net Income

• Owner’s Equity Statement

• Balance Sheet