Preparing a Statement of Changes in Partners Equity On January 1 Carol Farmer and Jim Romans formed a partnership, Research Consultants. Each partner invested $50,000 in cash on that date. The partnership agreement stated that the partners would share net income or loss equally. During the year Farmer invested an additional $2,000 and withdrew $7,500 for personal use. Romans invested an additional $1,500 and withdrew $8,500. Net income for the first year was $33,176. Instructions In your working papers, prepare a statement of changes in partners equity for the year ended December 31.
Lecture 5 After covering the seven fundamental building blocks, workforce trends, motivation and staffing, Wednesday we turned our attention to compliance with employment and wage &hour laws. How can you avoid discrimination in hiring How can you avoid paying people unfairly How can you ensure hourly employees receive all the benefits they earn How can you create a work environment that is safe and free from harassment These are the questions we addressed in class and in our readings for this lecture. Answers to these questions are guided by our knowledge of Employment laws and various federal and California Wage and Hour laws.