SPECIAL ACCOUNTS AND ENTRIES 191 



ILLUSTRATION 35 



ENTRY UPON DISSOLUTION OF PARTNERSHIP PREPARED FROM 

 TRIAL BALANCE AFTER CLOSING 



Trial Balance After Closing Feb. 28, 1917 



Cash $2,000 



Equipment 600 



Horses 1,000 



Cattle 1,000 



$4,600 



John Emery Capital . . . $2,800 

 Chan Hopkins Capital . 1,800 



$4,600 



Entry of Dissolution 



John Emery Capital $2,800 



Chan Hopkins Capital 1,800 



Cash $2,000 



Equipment 600 



Horses 1,000 



Cattle .'. 1,000 



for closing by a single proprietor is exactly similar, ex- 

 cept that one capital account is involved instead of two. 



Share Rent. From the tenant's point of view, renting 

 on shares causes some modification in the details of the 

 bookkeeping entries. A contract or lease for rental on 

 shares does not create a partnership. The relation between 

 landlord and tenant is not that of partners. So much 

 depends upon the terms of the lease that few rules can 

 be given for the making of specific entries. Some leases 

 contain provisions for part cash rental in addition to a 

 specified share of the gross income from sales. Leases also 

 differ as to the property to be supplied by the tenant, and 

 as to who shall meet certain classes of expenditure. Leav- 

 ing the discussion of the effect of share rent on costs for 



