Partnership Dissolution

1 Puchase of interest
2
3 Purchase of Interest 1 Partner
4 Auntie Herscha admitted into parntership thru purchase of P30,000 capital from Auntie hellen
5 Uncle Roger Auntie Hellen Auntie Herscha
6 Capital, Beg 40,000 60,000
7 Sale to new owner - 30,000 30,000
8 Capital, End 40,000 30,000 30,000
9 % Share in ownership 40% 30% 30%
10
11 Purchase of Interest 1 or more partners
12 Auntie Herscha admitted into parntership thru purchase of capital from Auntie hellen and Uncle Roger for
13 Uncle Roger Auntie Hellen Auntie Herscha
14 Capital, Beg 40,000 60,000
15 Sale to new owner - 10,000 - 20,000 30,000
16 Capital, End 30,000 40,000 30,000
17 % Share in ownership 30% 40% 30%
18
19 Purchase of Interest 1 or more partners at a premium
20 Auntie Herscha admitted into parntership thru purchase of capital from Auntie hellen and Uncle Roger for
21 Uncle Roger Auntie Hellen Auntie Herscha
22 Capital, Beg 40,000 60,000
23 Sale to new owner - 10,000 - 20,000 30,000
24 Capital, End 30,000 40,000 30,000
25 % Share in ownership 30% 40% 30%
26
27 Purchase of Interest 1 or more partners at a discount
28 Auntie Herscha admitted into parntership thru purchase of capital from Auntie hellen and Uncle Roger for
29 Uncle Roger Auntie Hellen Auntie Herscha
30 Capital, Beg 40,000 60,000
31 Sale to new owner - 10,000 - 20,000 30,000
32 Capital, End 30,000 40,000 30,000
33 % Share in ownership 30% 40% 30%
34
35 Purchase of Interest 1 or more partners at a discount
36 Auntie Herscha admitted into parntership thru purchase of 25% share in the partnership from Auntie helle
37 Uncle Roger Auntie Hellen Auntie Herscha
38 Capital, Beg 40,000 60,000
39 Sale to new owner - 25,000 25,000
40 Capital, End 40,000 35,000 25,000
41 % Share in ownership 40% 35% 25%
42 Puchase of interest WITH Revaluation of assets
43
44 Purchase of Interest 1 Partner
45 Auntie Herscha admitted into parntership thru purchase of P30,000 capital from Auntie hellen. Asset's fair
46 Uncle Roger Auntie Hellen Auntie Herscha
47 Capital, Beg 40,000 60,000
48 Revaluation of assets - -
49 Sale to new owner - 30,000 30,000
 50 Capital, End 40,000 30,000 30,000
51 % Share in ownership 36% 27% 27%
52
53 Purchase of Interest 1 or more partners
54 Auntie Herscha admitted into parntership thru purchase of capital from Auntie hellen and Uncle Roger for
55 Uncle Roger Auntie Hellen Auntie Herscha
56 Capital, Beg 40,000 60,000
57 Revaluation of assets - -
58 Sale to new owner - 10,000 - 20,000 30,000
59 Capital, End 30,000 40,000 30,000
60 % Share in ownership 27% 36% 27%
61
62 Purchase of Interest 1 or more partners at a discount
63 Auntie Herscha admitted into parntership thru purchase of 25% share in the partnership from Auntie helle
64 Uncle Roger Auntie Hellen Auntie Herscha
65 Capital, Beg 40,000 60,000
66 Revaluation of assets - -
67 New capital base for distribution 40,000 60,000 -
68 Sale to new owner - 27,500 27,500
69 Capital, End 40,000 32,500 27,500
70 % Share in ownership 36% 30% 25%
71
72 Admission thru buy in
73 Straight buy in
74 Auntie Herscha admitted into parntership thru additional investment of 20,000 Cash.
75 Uncle Roger Auntie Hellen Auntie Herscha
76 Capital, Beg 40,000 60,000
77 Sale to new owner 20,000
78 Capital, End 40,000 60,000 20,000
79 % Share in ownership 33% 50% 17%
80
81 Buy in at 25% share ownership
82 Auntie Herscha admitted into parntership thru additional investment equivalent to 25% ownership
83 Uncle Roger Auntie Hellen Auntie Herscha
84 Capital, Beg 40,000 60,000
85 Sale to new owner 33,333
86 Capital, End 40,000 60,000 33,333
87 % Share in ownership 30% 45% 25%
88
89 Capital, Beg 100,000
90 divide by 75% (current owners new share) 75%
91 Capital, end 133,333.33
92
93 Buy in at 40% share ownership with asset revaluation
94 Auntie Herscha admitted into parntership thru additional investment equivalent to 40% ownership. Assets
95 Uncle Roger Auntie Hellen Auntie Herscha
96 Capital, Beg 40,000 60,000
97 Revaluation of assets 8,000 12,000
98 New capital base for distribution 48,000 72,000 -
99 Sale to new owner 80,000
100 Capital, End 48,000 72,000 80,000
101 % Share in ownership 24% 36% 40%
102
103 Capital, Beg 120,000
104 divide by 60% (current owners new share) 60%
105 Capital, end 200,000
106
107 Admission with bonus
108 Buy in at P50,000 for 25% share ownership with asset revaluation; Bonus to old partner
109 Auntie Herscha admitted into parntership thru additional investment equivalent to 25% ownership. Assets
110 Uncle Roger Auntie Hellen Auntie Herscha
111 Share in ownership Beginning 40% 60%
112 Capital, Beg 40,000 60,000
113 Revaluation of assets 8,000 12,000
114 Admission of new parnter 50,000
115 New capital base for distribution 48,000 72,000 50,000
116 Admission of new parnter 3,000 4,500 - 7,500
117 Capital, End 51,000 76,500 42,500
118 % Share in ownership 30% 45% 25%
119
120 New capital base for distribution 170,000
121 Multiply by Capital base 25%
122 Auntie Herscha Capital 42,500
123
124 Buy in at P20,000 for 25% share ownership with asset revaluation; Bonus to new partner
125 Auntie Herscha admitted into parntership thru additional investment equivalent to 25% ownership. Assets
126 Uncle Roger Auntie Hellen Auntie Herscha
127 Share in ownership Beginning 40% 60%
128 Capital, Beg 40,000 60,000
129 Revaluation of assets 8,000 12,000
130 Admission of new parnter 20,000
131 New capital base for distribution 48,000 72,000 20,000
132 Admission of new parnter - 6,000 - 9,000 15,000
133 Capital, End 42,000 63,000 35,000
134 % Share in ownership 30% 45% 25%
135
136 New capital base for distribution 140,000
137 Multiply by Capital base 25%
138 Auntie Herscha Capital 35,000
139
140 Admission with cash settlement
141 Buy in for 33.33% share ownership with asset revaluation cash settlement between old partners
142 Auntie Herscha admitted into parntership thru additional investment equivalent to 33.33% ownership. Ass
143 Uncle Roger Auntie Hellen Auntie Herscha
144 Share in ownership Beginning 40% 60%
145 Capital, Beg 40,000 60,000
146 Revaluation of assets 8,000 12,000
147 New capital base for admission 48,000 72,000 -
148 Admission of new parnter 12,000 - 12,000 60,000
149 Capital, End 60,000 60,000 60,000
150 % Share in ownership 33% 33% 33%
151
152 New capital base for distribution 120,000
153 Divide by Old Partner Capital base 67%
154 Net Capital, end 180,000
155
156 Admission with goodwill
157 Buy in for 33.33% share ownership for P70,000. No additional assets are invested
158 Auntie Herscha admitted into parntership thru additional investment equivalent to 33.33% ownership for
159 Uncle Roger Auntie Hellen Auntie Herscha
160 Share in ownership Beginning 40% 60%
161 Capital, Beg 40,000 60,000
162 Admission of new parnter 70,000
163 New capital base for admission 40,000 60,000 70,000
164 Goodwill to old partners 16,000 24,000
165 Capital, End 56,000 84,000 70,000
166 % Share in ownership 27% 40% 33%
167
168 Investment of new partners 70,000
169 Divide by new Partner Capital 33%
170 Net Capital, end 210,000
171
172 Withdrawal of Partner
173
174 Auntie Herscha admitted into parntership thru additional investment equivalent to 33.33% ownership. Ass
175 After 1 year, Auntie hellen left the partnership where she received a piece of land valued at P65,000 with a
176 Uncle Roger Auntie Hellen Auntie Herscha
177 % Share in ownership 33% 33% 33%
178 Capital, Beg 40,000 60,000
179 Revaluation of assets 8,000 12,000
180 New capital base for admission 48,000 72,000 -
181 Admission of new partner 12,000 - 12,000 60,000
182 Capital, after admission 60,000 60,000 60,000
183 Asset revaluation 5,000 5,000 5,000
184 Capital, after revaluation of land 65,000 65,000 65,000
185 Withdrawal of partner - 65,000
185 Capital, after withdrawal of partner 65,000 - 65,000
Auntie hellen
Capital
100,000
-
100,000
100%

ellen and Uncle Roger for P20K and P10K respectively

Capital
100,000
-
100,000
100%

ellen and Uncle Roger for P20K and P10K respectively. Auntie Herscha paid Auntie hellen P25,000.
Capital
100,000
-
100,000
100%

ellen and Uncle Roger for P20K and P10K respectively. Auntie Herscha paid Auntie hellen P5,000.
Capital
100,000
-
100,000
100%

nership from Auntie hellen for P50,000

Capital
100,000
-
100,000
100%

Auntie hellen. Asset's fairvalue is P10K higher than the book value
Capital
100,000
10,000
-
 110,000
100%

ellen and Uncle Roger for P20K and P10K respectively. Asset's fairvalue is P10K higher than the book value
Capital
100,000
10,000
-
110,000
100%

nership from Auntie hellen for P50,000. Asset's fairvalue is P10K higher than the book value
Capital
100,000
10,000
110,000
-
110,000
100%

Capital
100,000
20,000
120,000
100%

to 25% ownership
Capital
100,000
33,333
133,333
100%

to 40% ownership. Assets are valued at P220,000. P20,000 higher compared to book value
Capital
100,000
20,000
120,000
80,000
200,000
 100%

to 25% ownership. Assets are valued at P220,000. P20,000 higher compared to book value
Capital

100,000
20,000
50,000
170,000
-
170,000
100%

to 25% ownership. Assets are valued at P220,000. P20,000 higher compared to book value
Capital

100,000
20,000
20,000
140,000
-
140,000
100%

to 33.33% ownership. Assets are valued at P220,000. P20,000 higher compared to book value
Capital

100,000
20,000
120,000
60,000
180,000
100%
to 33.33% ownership for P70,000.
Capital

100,000
70,000
170,000
40,000
210,000
100%

to 33.33% ownership. Assets are valued at P220,000. P20,000 higher compared to book value
d valued at P65,000 with a book value of P50,000.
Capital
100%
100,000
20,000
120,000
60,000
180,000
15,000
195,000
- 65,000
130,000
Prepare the journal entries for all the scenario
Use the row number to reference your journal entries
You must get the entry and the particulars correct to get a point.

NR Account
Row 7 Dr Capital, Auntie Hellen
Cr Capital, Auntie Herscha
To record the admission of Auntie Herscha to
the partnership calculated as follow
P60,000*50%

Row 15 Dr. Capital, Auntie Hellen

Dr. Capital, Uncle Roger

Cr. Capital, Auntie Herscha

To record the admission of Auntie Herscha to
the partnership calculated as follow
P20,000/30,000*30,000 ;
P10,000/30,000*30,000

Row 23 Dr. Capital, Auntie Hellen

Dr. Capital, Uncle Roger
Cr. Capital, Auntie Herscha
To record the admission of Auntie Herscha to
the partnership calculated as follow
P20,000/30,000*30,000 ;
P10,000/30,000*30,000

Row 31 Dr. Capital, Auntie Hellen

Dr. Capital, Uncle Roger
Cr. Capital, Auntie Herscha
To record the admission of Auntie Herscha to
the partnership calculated as follow
P20,000/30,000*30,000 ;
P10,000/30,000*30,000

Row 39 Dr. Capital, Auntie Hellen

Cr. Capital, Auntie Herscha
To record the admission of Auntie Herscha to
the partnership calculated as follow
P100,000*25%

Row 48 Dr Assets
Cr. Capital, Auntie Hellen
Cr. Capital, Uncle Roger

To record the revaluation of assets calculated

as follow P10,000*60% ; P10,000*40%
Row 49 Dr Capital, Auntie Hellen
Cr Capital, Auntie Herscha
To record the admission of Auntie Herscha to
the partnership calculated as follow
P60,000*50%

Row 57 Dr. Assets

Cr. Capital, Auntie Hellen
Cr. Capital, Uncle Roger

To record the revaluation of assets calculated

as follow P10,000*60% ; P10,000*40%

Row 58 Dr. Capital, Auntie Hellen

Dr. Capital, Uncle Roger
Cr. Capital, Auntie Herscha
To record the admission of Auntie Herscha to
the partnership calculated as follow
P20,000/30,000*30,000 ;
P10,000/30,000*30,000

Row 66 Dr. Assets

Cr. Capital, Auntie Hellen
Cr. Capital, Uncle Roger

To record the revaluation of assets calculated

as follow P10,000*60% ; P10,000*40%

Row 68 Dr. Capital, Auntie Hellen

Cr. Capital, Auntie Herscha
To record the admission of Auntie Herscha to
the partnership calculated as follow
P110,000*25%

Row 77 Dr. Cash

Cr. Capital, Auntie Herscha
To record the admission of Auntie Herscha to
the partnership calculated as follow
P120,000*17%

Row 85 Dr. Cash

Cr. Capital, Auntie Herscha
To record the buy in to the partnership
calculated as follow P100,000/75%*25%

Row 97 Dr. Assets

Cr. Capital, Auntie Hellen
 Cr. Capital, Uncle Roger

To record the revaluation of assets calculated

as follow P20,000*60% ; P20,000*40%

Row 99 Dr. Cash

Cr. Capital, Auntie Herscha
To record the buy in to the partnership
calculated as follow P120,000/60%*40%

Row 113 Dr. Assets

Cr. Capital, Auntie Hellen
Cr. Capital, Uncle Roger

To record the revaluation of assets calculated

as follow P20,000*60% ; P20,000*40%

Row 116 Dr. Cash

Cr. Capital, Auntie Herscha
Cr. Capital, Auntie Hellen
Cr. Capital, Uncle Roger
To record the buy in to the partnership
calculated as follow P120,000+50,000*25% ;
P7,500*60% ; P7,500*40%

Row 129 Dr. Assets

Cr. Capital, Auntie Hellen
Cr. Capital, Uncle Roger

To record the revaluation of assets calculated

as follow P20,000*60% ; P20,000*40%

Row 132 Dr. Cash

Dr. Capital, Auntie Hellen
Dr. Capital, Uncle Roger
Cr. Capital, Auntie Herscha
To record the buy in to the partnership
calculated as follow P15,000*60% ;
P15,000*40% ; P120,000+20,000*25%

Row 146 Dr. Assets

Cr. Capital, Auntie Hellen
Cr. Capital, Uncle Roger

To record the revaluation of assets calculated

as follow P20,000*60% ; P20,000*40%

Row 148 Dr. Capital, Auntie Hellen

 Cr. Capital, Uncle Roger

To record partner's agreed capital adjustment

calculated as follow P180,000*33.3333%-
72,000 ; P180,000*33.3333%-48,000

Row 162 Dr. Cash

Cr. Capital, Auntie Herscha
To record the admission of Auntie Herscha to
the partnership calculated as follow
P210,000*33.3333%

Row 164 Dr. Goodwill

Cr. Capital, Auntie Hellen
Cr. Capital, Uncle Roger

To record goodwill in the partnership calculated

as follow P40,000*60% ; P40,000*40%

Row 179 Dr. Assets

Cr. Capital, Auntie Hellen
Cr. Capital, Uncle Roger

To record the revaluation of assets calculated

as follow P20,000*60% ; P20,000*40%

Row 181 Dr. Capital, Auntie Hellen

Cr. Capital, Uncle Roger

To record partner's agreed capital adjustment

calculated as follow P180,000*33.3333%-
72,000 ; P180,000*33.3333%-48,000

Row 183 Dr. Land

Cr. Capital, Auntie Hellen
Cr. Capital, Uncle Roger
Capital, Auntie Herscha
To record the revaluation of land calculated as
follow P15,000*33.3333%

Row 185 Dr. Capital, Auntie Hellen

Cr. Land
To record the partner's withdrawal calculated
as follow P195,000*33.3333%
Debit Credit
30,000.00
30,000.00

20,000.00
10,000.00

30,000.00

20,000.00
10,000.00
30,000.00

20,000.00
10,000.00
30,000.00

25,000.00
25,000.00

10,000.00
6,000.00
4,000.00
 30,000.00
30,000.00

10,000.00
6,000.00
4,000.00

20,000.00
10,000.00
30,000.00

10,000.00
6,000.00
4,000.00

27,500.00
27,500.00

20,00.00
20,000.00

33,333.33
33,333.33

20,000.00
12,000.00
 8,000.00

80,000.00
80,000.00

20,000.00
12,000.00
8,000.00

50,000.00
42,500.00
4,500.00
3,000.00

20,000.00
12,000.00
8,000.00

20,000.00
9,000.00
6,000.00
35,000.00

20,000.00
12,000.00
8,000.00

12,000.00
 12,000.00

70,000.00
70,000.00

40,000.00
24,000.00
16,000.00

20,000.00
12,000.00
8,000.00

12,000.00
12,000.00

15,000.00
5,000.00
5,000.00
5,000.00

65,000.00
65,000.00