Section 605.2180  Account 218

a)         In Note B of Account 218, "Proprietary Capital (for proprietorships and partnerships only)," delete the words "earned surplus" and replace with "retained earnings."

b)         Add as Note C:  "Amounts payable to the proprietor as just and reasonable compensation for services performed (that level of compensation which would be paid to an equally qualified non-proprietor employee in the same cirucumstances) shall not be charged to this account but to appropriate operating expense or other accounts."