ch12 - CHAPTER 12 Accounting for Partnerships ASSIGNMENT...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
12-1 CHAPTER 12 Accounting for Partnerships ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises A Problems B Problems 1. Identify the characteristics of the partnership form of business organization. 1, 2, 3, 4, 12 1 2. Explain the accounting entries for the formation of a partnership. 5 1, 2 2, 3 1A 1B 3. Identify the bases for dividing net income or net loss. 6, 7, 8, 9, 10 3, 4, 5 4, 5 2A 2B 4. Describe the form and content of partnership financial statements. 11 6, 7 1A, 2A 1B, 2B 5. Explain the effects of the entries to record the liquidation of a partnership. 12, 13, 14, 15, 16 6 8, 9, 10 3A 3B *6. Explain the effects of the entries when a new partner is admitted. 17, 18, 19, 20 7, 8 11, 12, 15 4A 4B *7. Describe the effects of the entries when a partner withdraws from the firm. 20, 21, 22, 23 9, 10 13, 14, 15 5A 5B * Note: All asterisked Questions, Exercises, and Problems relate to material contained in the appendix * to the chapter.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
12-2 ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description Difficulty Level Time Allotted (min.) 1A Prepare entries for formation of a partnership and a balance sheet. Simple 20–30 2A Journalize divisions of net income and prepare a partners’ capital statement. Moderate 30–40 3A Prepare entries with a capital deficiency in liquidation of a partnership Moderate 30–40 *4A Journalize admission of a partner under different assumptions. Moderate 30–40 *5A Journalize withdrawal of a partner under different assumptions. Moderate 30–40 1B Prepare entries for formation of a partnership and a balance sheet. Simple 30–40 2B Journalize divisions of net income and prepare a partners’ capital statement. Moderate 30–40 3B Prepare entries and schedule of cash payments in liquidation of a partnership. Moderate 30–40 *4B Journalize admission of a partner under different assumptions. Moderate 30–40 *5B Journalize withdrawal of a partner under different assumptions. Moderate 30–40
Background image of page 2
BLOOM’S TAXONOMY TABLE 12-3 Correlation Chart between Bloom’s Taxonomy, Study Objectives and End-of-Chapter Exercises and Problems Study Objective Knowledge Comprehension Application Analysis Synthesis Evaluation 1. Identify the characteristics of the partnership form of business organization. Q12-1 Q12-2 Q12-3 Q12-4 Q12-12 E12-1 2. Explain the accounting entries for the formation of a partnership. Q12-5 BE12-1 BE12-2 E12-2 E12-3 P12-1A P12-1B 3. Identify the bases for dividing net income or net loss. Q12-6 Q12-7 Q12-9 Q12-8 Q12-10 BE12-3 BE12-4 BE12-5 E12-4 E12-5 P12-2A P12-2B 4. Describe the form and content of partnership financial statements. Q12-11 E12-6 E12-7 5. Explain the effects of the entries to record the liquidation of a partnership. Q12-13 Q12-14 Q12-15 Q12-16 BE12-6 E12-8 E12-9 E12-10 P12-3A P12-3B *6. Explain the effects of the entries when a new partner is admitted. Q12-17 Q12-18 Q12-19 Q12-20 BE12-7 BE12-8 E12-11 E12-12 E12-15 P12-4A P12-4B *7. Describe the effects of the entries when a partner withdraws from the firm. Q12-22 Q12-23 Q12-21 BE12-9 BE12-10 E12-13 E12-14 P12-5A P12-5B Broadening Your Perspective Exploring the Web Decision Making Across the Organization Communication
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 44

ch12 - CHAPTER 12 Accounting for Partnerships ASSIGNMENT...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online