explain learning objective ; first point for any relevant accounting entries, ratios, or short ; second point for further relevant explanation or analysis in document; third point for summarizing news relevant to both contents of learning objective and of cards (or of video);

Chapter 12 Learning Objectives C1 Identify characteristics of partnerships and similar organizations A1 Compute partner return on equity and use it to evaluate partnership performance P1 Prepare entries for partnership formation P2 Allocate and record profit and loss among partners P3 Account for the admission of partners P4 Account for the withdrawal of partners P5 Prepare entries for partnership liquidation