Journal enries

1 cash 100,000
baldecir capital 100,000

2 equipment 80,000
fornolles capital 20,000
magallanes capital 60,000 swap debit-credit

cash 140,000
badecir capital 140,000

3 cash 180,000
fornolles capital 18,000
magallames capital 54,000
baldecir capital 108,000

4 cash 200,000
fornolles capital 5,000
magallanes capital 15,000
baldecir capital 220,000
ap debit-credit
 journal entries

1 cash 60,000
to rementina capital 60,000 make table

2 rubite capital 22,000

buenaventure capital 11,000
to rementina capital 33,000 review

3 cash 32,000
to rementina capital 32,000 make table
 contribution agreed
rubita 100,000 100,000
buenaventure 40,000 40,000
total 140,000 140,000
rementina 60,000 60,000
total 200,000 200,000
 journal entries

1 piators capital 80,000

generales capital 80,000

2 cash 180,000
generales capital 180,000

combutation
both parner is 2/3 *360,000 540,000
less 360,000
genales share 180,000

3 pilapils capital 36,000

piators total capital 24,000
inventory 60,000

cash 100,000
generales capital 100,000

combutation:
total capital after his admission
100,000*4/1
400,000

total capital both pilapil and piator

(400,000-100,000)
300,000

inventory (360,000-300,000) 60,000

4 land 20,000
piapil capital 12,000
piator total capital 8,000

pilapils capital 65,000

piator capital 75,000 formula?
 generales capital 140,000

combutation:
total capital after his admission
140,000*4/1
480,000

total capital of both pilapil and

piator(480,000-140,000)
340,000

excess of (360,000-340,000) 20,000

5 cash 80,000
capital reserve 8,000 ???
generales capital 440,000*1/5 88,000
 cc bonus ac
pilapil 200,000 -4,800 195,200
piator 160,000 -3,200 156,800
total 360000 -8000 352000
generales 80,000 8,000 88,000
total 440,000 zero 440,000
 journal enrtries

1 current assets 70,000

plant assets 230,000
goodwill 20,000
liabilities 200,000
relacion capital 120,000

2 profit and loss appropriation 30,000

orosco capital 9,000
bonoan capital 12,000
relacion capital 9,000
 journal entries

a rosario capital 70,000

cash 50,000
gain on retirement of partner 20,000

gain on retirement of partner 20,000

to rivadelo capital 20,000*2/8 5,000
to del mundo capital 20,000*2/8 5,000
to pabustan capital 20,000*4/8 10,000

b cash 20,000
bobadilla capital 20,000
a rosario capital 70,000
cash 50,000
rivadelo capital 5,000
del mundo capital 5,000
pabustan capital 10,000

b
cc bonus ac
rivadelo 65,000 -500 64,500
del mundo 85,000 -500 84,500
pabustan 50,000 -1,000 49,000
total 200,000 -2,000 198,000
bobadilla 20,000 2,000 22,000
total 220,000 zero 220,000
journal entries

danes capital 30,000

de chaves capital 6,400
castillo capital 1,600
cash 38,000

combutuion

capital contribution danes 30,000

paid 38,000
excess treated as bonus 8,000

ratio 4:1

share of de chavez 8,000*4/5 6,400

share of castillo 8,000*1/5 1,600

 journal entries

1 alcantre capital 60,000

reyees capital 60,000

2 alcantaras capital 60,000

reyees capital 5,000
marianos capital 5,000
cash 70,000
journal enries

Business Purchase 200,000

Liquidator of Gelacio and Gangoso 200,000

assets account 224,000

goodwill 16,000
liabilities 40,000
business purchase 200,000

liquidator of gelacio and gangoso 200,000

share capital 200,000

combutation:

purchse cosideration

number of shares issued 20,000

par value per share assumed 10
purchase consideration 200,000

goodwill

purchase consideration 200,000

assets 224,000
liabilities (40,000)
net assets 184,000
goodwill 16,000
calculatio of asset value to corp

cash 45,000
account receivables 40,000
inventory 68,000
property and equipment 180,600
total assets 333,600
less liabilities 60,000
net assets 273,600

equity share price 10

preferance share price 100

distribution of shares
kalaw woo
number of equity share 720 720

number of preference share 876 2070

comutation: kalaw woo

share in firm 94,800 214,200
less equity share issued 7,200 7,200
87,600 207,000

nuber of prefferance issue 876 2,070

journal entry

cash 45,000
account receivable 40,000
inventory 68,000
property and equipment 180,600
goodwill 165,000
liabilities 60,000
equity share capital 144,000
preferance share capital 294,600