This pack starts with tasks where interest on equity and drawings need to be calculated, as well as the profit-sharing ratio. It moves on to appropriation accounts followed by exercises on updating the current account. The next section looks at completing the appropriation account, equity and current accounts and completing the “financed by” part of the statement of financial position. There are several tasks where both the partnership income statement and statement of financial position have to be completed. The pack finishes with how to account for the admission of a new partner.
**All tasks are on a spreadsheet – one resource has help by way of headings, shading to indicate where data is to be inserted and formulas already in, the other has the questions but is otherwise a blank worksheet. Solutions are also included **