Jerah Y.

Torrejos
ACP311 (2960)

EX.1
A B
Net Income 180,000
Salary 120,000 80,000 (200,000)
(20,000)
Share on Profit (10,000) (10,000)
110,000 70,000 180,000

Entry: Income Summary 180,000

A, Capital 110,000
B, Capital 70,000

EX.2
F G H
Net Loss (33,000)
Interest 12,000 6,000 4,000 (22,000)
Salaries 30,000 20,000 (50,000)
(105,000)
Share on Profit (35,000) (35,000) (35,000)
7,000 (29,000) (11,000) (33,000)

The capital of F will have an additional of 7,000

EX. 3
J 60% P 40%
Net Income ?
Salary 100,000 50,000 (150,000)
Interest 50,000 20,000 (70,000)
325,000
Share on Profit 195,000 130,000
345,000 200,000 545,000
Total Partnership Income is 545,000
J, Capital 345,000
P, Capital 200,000
545,000

EX. 4 Net Income: 19,500

Depreciation (2,100)
Inventory (11,400)
Adjusted Net Income 6,000

P- 3 R-2
Net Income 6,000
Salary 14,400 13,200 (27,600)
(21,600)
Equal Distribution (10,800) (10,800)
PNL Distribution 3,600 2,400 6,000

The Capital is increased by 3,600 for P and 2,400 for R.

EX. 5 Income from Fees 90,000

 Expenses (48,000)
Net Income 42,000

CC-5 DD-3 EE-2

Net Income 42,000
Salary 14,000 (14,000)
28,000
Share on Profit 14,000 8,400 5,600 (28,000)
0
Additional Profit to DD (1,500) 2,100 (600)
PnL Distribution 12,500 10,500 19,000
The amounts to be credited in each capital account are:
CC, Capital 12,500
DD, Capital 10,500
EE, Capital 19,000

EX. 6
LL- 5 MM-3 PP-2 38,550
Net Income ?
Interest 2,000 1,250 750 (4,000)
Salary 8,500 (8,500)
Additional to MM 7,050 (7,050)
19,000
Share on Profit 9,500 5,700 3,800
20,000 14,000 4,550 38,550
The amount that must be earned by the partnership is 38,550.

EX. 7 A-60% B-30% C-10% D

Capital Balances 80,000 40,000 20,000
For D (20,000) (10,000) (5,000) 35,000
60,000 30,000 15,000
Capital BONUS
A, Capital 60,000 69,000 9,000
B, Capital 30,000 34,500 4,500
C, Capital 15,000 16,500 1,500
D, Capital 35,000 20,000 (15,000)
140,000 140,000

Cash 40,000
BV 35,000 Capital Balances:
5,000 A, Capital 69,000
Divide 1/4 B, Capital 34,500
20,000 C,Capital 16,500
Multiply .60 D, Capital 20,000
12,000 140,000
80,000
92,000
Multiply .75
54,000

EX. 8 A-60% B-30% C-10% D

Capital Balances 252,000 126,000 42,000
For D (50,400) (25,200) (8,400) 84,000
201,600 100,800 33,600
 Capital Balances of the Partners:
A, Capital 201,600 201,600
B, Capital 100,800 100,800
C, Capital 33,600 33,600
D, Capital 84,000 84,000
420,000 420,000

Agreed Capital Bonus

EX. 9 A, Capital 35,000 31,500 (3,500)
B, Capital 30,000 28,500 (1,500)
C, Capital 25,000 30,000 5,000
90,000 90,000

The Capital Balances

A, Capital 31,500
B, Capital 28,500
C, Capital 30,000
90,000

5 3 2
EX. 10 A B C
100,000 150,000 200,000
Inventory 20,000 10,000 6,000 4,000
Net Income 140,000 70,000 42,000 28,000
180,000 198,000 232,000

C, Capital 232,000
Cash 195,000 Remaining Capital Balances:
A, Capital 23,125 A B
B, Capital 13,875 180,000 198,000
23,125 13,875
203,125 211,875