hw for wed 3/24 and test info

test next friday will cover
*chapters 7 (portion dealing with marketable securities)
*chapter 9
*appendix C


HW for 3/24:

partners:
f,b, and n
fixed ratio 5:44:1
Salary allowances: 60000/0/0
Interest allowance factor: 6% of openning capital balances
openning capital balances 1/1/08: 600,000/100,000/100,000
profit for y/e 12/31/2008: $90,0000
profit for y/e 12/31/2009: $30,0000
drawings for y/e 12/31/08 30,000/6000/15000
drawings for y/e 12/31/09 0/6000/1000
no capital contributions made in 2008 or 2009

Do:
income allocation schedules for 2008 and 2009
Statement of partner's capital for 2008 and 2009
3rd and 4th closing entries for 2008 and 2009