8.

B
Investments
Elton ₱ 70,000 - ₱ 7,000 = ₱ 63,000
Don ₱ 60,000 - ₱ 3,000 = ₱ 57,000
Kravits ₱ 50,000 + ₱ 10,000 = ₱ 60,000
Total ₱ 180,000 ₱ 180,000
Kravits Interest upon investment 1/3
₱ 60,000

Kravits Contributed Capital ₱ 50,000

Kravits Agreed Capital ₱ 60,000
Difference (Bonus to new Partner) ₱ 10,000

₱ 10,000 x 70% = ₱ 7,000

₱ 10,000 x 30% = ₱ 3,000

16. C
Total agreed capital (120,000 /60% ) ₱ 300,000
Multiplied by: Capital interest of Jones (new partner) 60%
Agreed capital of R ₱ 180,000 C

24. C

Total agreed capital (140,000 + 40,000) / 3/4 ₱ 240,000 Cash

Less: Total contributed capital (140,000 + 40,000 + 50,000) -₱ 230,000 Goodwill/assets
Goodwill/revaluation ₱ 10,000

32. A Paid amount ₱ 100,000 Burns, Capital

Capital balance -₱ 90,000 Reduction
Bonus ₱ 10,000 total
Multiply: 3:5 (Burns) 60%
Reduction ₱ 6,000

40. D Amount paid ₱ 56,000

Less: Book value of Tiffany (1/6) ₱ 50,000
Partial goodwill/revaluation adjustment ₱ 6,000
Divided 1/6
Goodwill/revaluation ₱ 36,000 D
48. E
Total agreed capital (P5,000/25%) ₱ 20,000
Less: Total contributed capital (P6,000+P4,800+P5,000) ₱ 15,800
Goodwill to old partners ₱ 4,200

GOODWILL METHOD
MM: [P6,000+(P4,200x3/5)] ₱ 8,520
NN: [P4,800+(P4,200x2/5)] ₱ 6,480
OO ₱ 5,000
Total agreed capital ₱ 20,000

Total agreed capital (P6,000+P4,800+P5,000) ₱ 15,800

Multiply: OO’s capital interest 25%
Agreed capital for OO ₱ 3,950
Contributed/Invested capital of OO ₱ 5,000
Bonus to old partners ₱ 1,050

BONUS METHOD
MM: [P6,000+(1,050x3/5)] ₱ 6,630
NN: [P4,800+(P1,050x2/5)] ₱ 5,220
OO ₱ 3,950
Total agreed capital ₱ 15,800
 B

50,000
10,000
David, capital (1/4 x P240,000) 60,000 C

30,000
-6,000
24,000 A
 MM NN OO
Goodwill Method 8,520 6,480 5,000
Bonus Method 6,630 5,220 3,950
Add: Goodwill (allocated equally) 1,400 1,400 1,400 4200/3
8,030 6,620 5,350
Bonus method- Gain (loss) 490 -140 350 E