Requirements: Do only the section highlighted in Green for this module.  The rest of this exercise will be completed in module 10, so please save your worksheet.
Review assets and liabilities of each partner and their market values in the following Excel Template, then:
1.
                 
Journalize the formation of the partnership. Refer to Module 05 Partnership Formation tab to help with this requirement.
Half way through the first year of operations Conway and Lawrence admit Korman to the partnership.
1.
                 
Journalize Korman's admission to the partnership. Refer to Module 05 Partnership Admission tab to help with this requirement.
2.
                 
Prepare an income distribution worksheet. Refer to Module 05 Dividing Income Between Partners tab to help with this requirement.
3.
                 
Journalize the closing of the income summary accounts to the capital accounts.
 
THE SECTION HIGHLIGHTED IN YELLOW PART IS THE OTHER HALF OFF ASSIGNMENT.  
SO PLEASE SEND ME THE FIRST PART THAT IS ABOVE.
 
  
THEN SEND ME A SEPRATE EXCEL SPREADSHEET WITH THE BOTTOM PART FILLED IN.
* I SHOULD GET 2 DIFFERENT COPIES FROM YOU*
 
PLEASE MESSAGE ME IF YOU HAVE QUESTIONS.
 
After five years of operation Conway, Korma, and Lawrence decide to dissolve their partnership.
1.
                 
Complete the liquidating worksheet. 
2. Journalize each step of the liquidation. 
 
EXCEL DOCUMENT IS ATTACHED.