Form Ar1050 - Partnership Return Of Income - 1999 Page 2

A.

Check method of accounting.

Cash

Accrual

Other: (Specify). __________________________________________________________________________

B.

Is partnership a limited partnership?...............................................................................................................................................................................

Yes

No

C.

Is this partnership a partner in another partnership?.......................................................................................................................................................

Yes

No

D.

Are any partners in this partnership also partnerships? ..................................................................................................................................................

Yes

No

SCHEDULE A:

COST OF GOODS SOLD

1.

Inventory at beginning of year. ............................................................................................................................................................................. 1

00

2.

Purchases less cost of items withdrawn for personal use. ................................................................................................................................... 2

00

3.

Cost of labor. ....................................................................................................................................................................................................... 3

00

4.

Other costs. .......................................................................................................................................................................................................... 4

00

5.

Total of Lines 1, 2, 3, and 4. ................................................................................................................................................................................ 5

00

6.

Inventory at end of year. ....................................................................................................................................................................................... 6

00

7.

Cost of goods sold. (Enter here and on Line 2, page 1). ..................................................................................................................................... 7

00

8.

Check all methods used for valuing closing inventory:

a.

Cost

b.

Lower of cost or market

c.

Writedown of “subnormal” goods

d. Other: (Specify method used and attach explanation). _____________________________________________________

e. Was the LIFO Inventory Method adopted this tax year for any goods?................................................................................................. e

Yes

No

f.

If you are engaged in manufacturing, did you value your inventory using the Full Absorption Method? ............................................. f

Yes

No

g. Were there any changes in determining quantities, cost or valuations between opening and closing inventories?

(If yes, attach explanation). ......................................................................................................................................................................... g

Yes

No

SCHEDULE B:

BALANCE SHEET

ASSETS

BEGINNING OF YEAR

END OF YEAR

Cash. ...............................................................................

Accounts Receivable. .......................................................

a.

Minus allowance for bad debts. .........................

Inventories. .....................................................................

Government obligations. .................................................

Other current assets. .......................................................

Mortgage and real estate loans. ......................................

Other investments. ..........................................................

Buildings and other depreciable assets. ..........................

a.

Minus accumulated depreciation. .......................

Depletable assets. ...........................................................

a.

Minus accumulated depletion. ...........................

Other assets. ...................................................................

TOTAL ASSETS. ..........................................................

LIABILITIES AND CAPITAL

BEGINNING OF YEAR

END OF YEAR

Accounts Payable. ...........................................................

Mortgages, notes and bonds payable. ............................

Other current liabilities. ...................................................

All nonrecourse loans. ....................................................

Other liabilities. ...............................................................

Partner’s capital accounts. ...............................................

TOTAL LIABILITIES AND CAPITAL. .........................

AR1050 Back (R 9/99)