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  • CHester Norbert Partnership POA

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    Matthew Bloomfield
    135 views4 pages
    1) The document shows current account balances for Chester, Norbert, and Telford for years 2006 and 2007. 2) It also shows a working sheet for appropriation of profits for the half year ended June 30, 2010, with details of net profit, interest on drawings, salaries, interest on capital, and share of residual capital for each person. 3) The final balances in 2010 are Chester receiving $27,500, Norbert receiving $27,500, and no entry for Telford.

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    1) The document shows current account balances for Chester, Norbert, and Telford for years 2006 and 2007. 2) It also shows a working sheet for appropriation of profits for the half year ended June 30, 2010, with details of net profit, interest on drawings, salaries, interest on capital, and share of residual capital for each person. 3) The final balances in 2010 are Chester receiving $27,500, Norbert receiving $27,500, and no entry for Telford.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    135 views4 pages

    CHester Norbert Partnership POA

    Uploaded by

    Matthew Bloomfield
    1) The document shows current account balances for Chester, Norbert, and Telford for years 2006 and 2007. 2) It also shows a working sheet for appropriation of profits for the half year ended June 30, 2010, with details of net profit, interest on drawings, salaries, interest on capital, and share of residual capital for each person. 3) The final balances in 2010 are Chester receiving $27,500, Norbert receiving $27,500, and no entry for Telford.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 4

    Current a/c

    Date Chester Norbert Telford Date Chester


    Detail Detail
    2006 $ $ $ 2006 $
    Jan 1 Balance b/d 1500 Jan 1 Balance b/d 24000
    Dec 31 Interest on drawings 320 350 Dec 31 Interest on Capital 25000
    Dec 31 Balance c/d 76180 36066.67 9583.33 Dec 31 Share of residual capital 27500
    30000 76500 37916.67 9583.33 76500
    2007
    25000
    Jan 1 Balance b/d 76180

    20000

    15000 Balance b/d


    Interest on Capital
    10000 Share of residual capital

    5000

    0
    $ $ $
    Chester Norbert Telford
    Current a/c
    Norbert Telford
    $ $

    15000 5000
    22916.67 4583.33
    37916.67 9583.33

    36066.67 9583.33
    Working Chester, Norbert, Telford
    Appropriation a/c for the half year ended June 30,2010
    Norbert Salary= 1500*12 $ $
    18000 Net Profit
    Add Interest on Drawings:
    Interest on Drawings Chester 160
    Chester Norbert 175
    320
    Norbert Less Salaries:
    350 Norbert 9000
    Less Interest on Capital:
    Interest on Capital Chester 12500
    Norbert Norbert 7500 25000
    15000
    Chester Share of residual capital
    25000 Chester 13750
    Telford Norbert 13750
    5000
    d June 30,2010
    $
    61165

    335
    61500

    34000
    27500

    27500

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