Unformatted text preview: With its executive ofFces in Oakville, Ontario, The Lodge at Kananaskis Limited Partnership operates a recreational facility located amongst the mountains of Kananaskis Country, Alberta. Required Refer to the partnership’s December 31, 2002, financial statements and answer the following questions. 1. What is total partners’ equity as at December 31, 2002? 2. Did partners’ equity increase or decrease from December 31, 2001, to December 31, 2002? What caused the change(s) in equity? 3. Under the Partnership Agreement, how are The Lodge’s profits and losses to be allocated? 4. What is the difference between a general partner and a limited partner?...
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This note was uploaded on 08/22/2009 for the course ACCT 1101 taught by Professor Davescott during the Fall '05 term at Niagara College.
- Fall '05
- Financial Accounting