Nama : Nurul Aryani

NIM : 43218120075
Akuntansi Keuangan Lanjutan 1

Forum 2

Soal 1
A balance sheet at December 31, 2011, for the Bec, Dee and Lyn partnership is summarized as follows :A balance sheet at
December 31, 2011, for the Bec, Dee and Lyn partnership is summarized as follows :.

Credit Credit

Assets $800,000 Liabilities $200,000

Loan to Dee $100,000 Bec Capital (50%) $300,000
$900,000 Dee Capital (40%) $300,000
Lyn Capital (10%) $100,000
$900,000

Dee is retiring from the partnership. The partners agree that partnership assets, excluding Dee’s loan, should be adjusted to
their fair value of $1,000,000 and that Dee should receive $310,000 for her capital balance net of the $100,000 loan. The bonus
approach is used; therefore, no goodwill is recorded.

REQUIRED : Determine the capital balances of Bec and Lyn immediately after Dee’s retirement.

Answer :
Adjustment for Asset
Assets $ 200,000
Bec Capital $ 100,000
Dee Capital $ 80,000
Lyn Capital $ 20,000

Entry to record settlement with Dee:

Dee Capital $ 380,000
Bec Capital (5/6 $30,000 excess payment) $ 25,000
Lyn Capital (1/6 $30,000 excess payment) $ 5,000
Dee loan $ 100,000
Cash $ 310,000

Bec Capital Lyn Capital

$ 300,000 $ 100,000
$ 100,000 $ 20,000
$ (25,000) $ (5,000)
$ 375,000 $ 115,000
Nama : Nurul Aryani
NIM : 43218120075
Akuntansi Keuangan Lanjutan 1

Forum 2
Soal 2
Liu and Wang have a partnership with profit sharing ratio of 40 percent and 60 percent, respectively. Liu has a capital
balance of $3,000,000 and Wang has $2,500,000. The partners agree to admit Ping into the partnership for a 40 percent
interest with an invesment of $6,000,000.

REQUIRED :

a. Calculate the balance of each partner’s capital if the assets of the partnership are revalued.

b. Calculate the balance of each partner’s capital if the assets of the partnership are not revalued.

Answer :
a
Total Equity of partnership before revaluation
$ 3,000,000
$ 2,500,000
$ 6,000,000
$ 11,500,000

To get capital interest of

40% $ 11,500,000 $ 4,600,000
Ping has to invest for $6,000,000 (goodwill to old partners)

Fair value of the partnership ($6,000,000 / 40%) $ 15,000,000

Total equity of partnership before revaluation $ 11,500,000
Goodwill $ 3,500,000

Allocation of goodwill :
To Liu ($3,500,000 x 40%) $ 1,400,000
To Ping ($3,500,000 x 60%) $ 2,100,000
$ 3,500,000

Capital balance of each partner :

Liu Wang Ping
$ 3,000,000 $ 2,500,000
$ 1,400,000 $ 2,100,000
$ 4,400,000 $ 4,600,000 $ 6,000,000
b
Ping interest in the partnership ($11,500,000 x 40%) $ 4,600,000
Total bonus to old partners ($6,000,000 - $4,600,000) $ 1,400,000

Capital balance of each partner :

Liu Wang Ping Total
$ 3,000,000 $ 2,500,000 $ 11,500,000
40% x $1,400,000 60% x $1,400,000 40%
$ 3,560,000 $ 3,340,000 $ 4,600,000 $ 11,500,000