Accounting for Partnerships

You are an employee of a full service bookkeeping and auditing firm called Accounting Solutions. Your

previous clients P. Rose, S. Flowers and R. Tulip recently dissolved their partnership and reformed as

Coopie Awards, Inc. For this exercise, you will address the following:

Journalize entries for forming a partnership, admitting a partner, distributing net income and dissolving

the partnership.
Complete a liquidating worksheet.

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