Vision: "Truth and Goodness in Man and for Mission: Produce, through responsive curriculum, morally

All others through Education" upright, committed and competent graduates capable of
meeting the growing human resources needs in the
professions, government, business, industry and home.

Tomas del Rosario College

Balanga City, Bataan

DEPARTMENT: Accountancy
Course Code: Par.Corp.

Course Title: Partnership and Corporation Accounting

I. Course Description:
This course deals with transactions, financial statements, and problems peculiar to the operations of partnerships and corporations as distinguished from sole proprietorships.
Topics include: partnership formation and operations including accounting for the admission of partners, changes in capital, and profit and loss sharing ratios; the conversion of
an unincorporated enterprise into a corporation; accounting for incorporated enterprises, including corporate organizations, paid-in capital, accumulated earnings (loss), dividends
and treasury shares. It will also cover the preparation of financial statements for internal and external purposes, accounting information systems manual and computerized
special journals; understanding balance sheet, income statement, statement of cash flows and statement of changes in equity; financials statements of companies in the service,
manufacturing and trading industries; and analysis of accounting information and decision making.

II. Course Credits: 6 Units

III. Course General Objectives:

At the of this course, students are expected to:
1. Appreciate better the nature of partnerships and corporations, how they are organized and their advantages and disadvantages as forms of business organization.
2. Understand the concepts of partnership and corporation as forms of business enterprise and the law governing those entities.
3. Develop skills in the preparation of financial statements of partnership and corporation whether engaged in trading or manufacturing operation.
4. Be aware of the social responsibilities of partnership and corporation.

IV. Course Content:

 PRELIMINARY PERIOD

Time Frame Topics Intended Learning Outcomes Teacher-Learner Activities

Lesson One Upon completion of this lesson, students
Weeks 1 & 2 Nature and Formation of a Partnership should be able to: Lecture
(12 hours ) Definition of Partnership > Define and discuss the nature of a partnership,
Characteristics of a Partnership its characteristics, advantages and Power Point Presentation
Advantages of a Partnership disadvantages.
Disadvantages of a Partnership > Identify the different kinds of partnership and Activity: Search the internet and look for
Kinds of Partnerships the classes of partners. the legal requirements to register a
Classes of Partners > Discuss the requirements in the formation of partnership at SEC.
Partnership Contract a partnership.
Organizing a Partnership > Discuss accounting for partners' initial
Accounting For Partnerships investments in a partnership.
Partnership Formation:
a) Two or more persons form a partnership
for the first time.
b) Sole poprietor and an individual form a
partnership.
c) Two or more sole proprietors form a
partnership.

Lesson Two Upon completion of this lesson, students

Weeks 3 & 4 Partnership Operations should be able to: Lecture
(12 hours ) Nature of Partnership Operation > Discuss the closing entries in a partnership and Class Discussion
Distribution of Profits and Losses differentiate them from the closing entries in a Power Point Presentation
Rules for Dividing Profits and Losses sole proprietorship.
Methods of Distributing Profits Based on Partners' > Indentify and discuss the different methods
Agreement: and rules of dividing partnership profits and
1. Equally losses among partners.
2. Arbitrary ratio (Percentage, Fraction, Ratio) > Discuss and understand the preparation of
3. Capital ratio financial statements of a partnership.
4. Interest on capital and the balance on agreed
ratio.
5. Salary allowances to partners and the balance
on agreed ratio.
6. Bonus to managing partner and the balance
on agreed ratio.
 7. Interest on capital, salaries to partners, bonus
to managing partner, and the balance on
agreed ratio.

Lesson Three Upon completion of this lesson, students

Weeks 5& 6 Partnership Dissolution should be able to: Lecture
(12 hours ) Definition of Dissolution > Define partnership dissolution and identify the Class Discussion
Conditions Resulting to Partnership Dissolution: conditions giving rise to it. Power Point Presentation
1. Admission of a new patner > Understand the accounting procedures to Problem Solving
1.1 Purchase of interest from one or more record the admission of a new partner by
of the original (old) partners. purchase.
1.2 Investment or asset contributions to the > Understand the accounting procedures to
partnership. record the admission of a new partner by
2. Retirement or withdrawal of a partner. investment.
3. Death, incapacity or bankruptcy of a partner.
4. Incorporation of a partnership.

MID-TERM PERIOD
Lesson Four Upon completion of this lesson, students
Weeks 1 & 2 Partnership Liquidation (Lump-Sum) should be able to: Lecture
(12 hours ) Nature of Partnership Liquidation > Define partnership liquidation and identify its Class Discussion
Definition of Liquidation causes. Power Point Presentation
Causes of Liquidation > Discuss the various problems encountered in Problem Solving
Accounting Problems in Partnership Liquidation partnership liquidation.
Types of Liquidation > Identify and differentiate the two types of
1. Lump-Sum partnership liquidation.
2. Installment (piece-meal) > Discuss and understand the accounting
Accounting Procedures in Lump-Sum Liquidation procedures under lump-sum liquidation.
1. Realization
2. Distribution of gain or loss on realization
3. Payment to creditors
4. Distribution of cash to partners

Lesson Five Upon completion of this lesson, students

Weeks 3 & 4 Partnership Liquidation (Installment) should be able to: Lecture - demonstration
(12 hours ) Nature of Installment Liquidation > Explain the nature of installment liquidation. Class Discussion
Installment Liquidation Procedures: > Discuss and understand the procedures followed Power Point Presentation
1. Realization of assets on a piece-meal basis. under installment liquidation. Problem Solving
 2. Distribution of gain or loss on realization. > Prepare a statement of liquidation and the
3. Preparation of cash distribution schedule. accompanying shedule showing how available
4. Distribution of available cash. cash is to be distributed.
Statement of Liquidation: > Prepare a Cash Priority Program.
1. Schedule to accompany the Statement of
Liquidation.
2. Cash Priority Program
> Loss absoption capacity
> Cash allocation

Lesson Six Upon completion of this lesson, students

Weeks 5& 6 Organization and Formation of a Corporation should be able to: Lecture
(12 hours ) Nature of a Corporation: > Define a corporation and identify its Class Discussion
Definition of Corporation characteristics. Power Point Presentation
Characteristics of Corporation > Identify and discuss the advantages and Problem Solving
Advantages of Corporation disadvantages of a corporate form of business.
Disadvantages of Corporation > Indentify and discuss the various classes of Activity: Search the internet and look for
Classes of Corporation corporation. the legal requirements to register a
Components of a Corporation > Identify the components of a corporation and corporation at SEC.
Steps in Organizing a Corporation the steps in organizing it.
a) Promotion > Identify the different types of records that are
b) Incorporation maintained by a corporation.
c) Commencement of the business > Identify and differentiate the two classes of share
Rights of a Stockholder capital that may be issued by a corporation.
Corporate Records > Identify the measurement bases in the issuance
Classes of Share Capital: of share capital in exchange for various
Ordinary share capital (common) considerations.
Preference share capital ( preferred) > Record transactions relating to issuance of share
a) Cumulative capital using the memorandum entry method
b) Noncumulative and journal entry method.
c) Participating
d) Nonparticipating
e) Convertible
f) Redeemable
Par value share capital
Stated value share capital
No-par, no stated value share capital
Issuance of Share Capital:
Methods of recording
 a) Memo entry
b) Journal entry
Considerations in exchange for share capital
a) Cash
b) Non-cash assets
c) Services
Share capital subscription

FINAL PERIOD
Lesson Seven Upon completion of this lesson, students
Weeks 1 & 2 Operations, Dividends, Book Value Per Share, and should be able to: Lecture
(12 hours ) Earnings Per Share > Explain the preparation of work sheet, adjusting Class Discussion
Steps in the Accounting Cycle: entries, and closing entries for a corporation. Power Point Presentation
> Work sheet Problem Solving
> Financial statements > Explain the components of the shareholders'
> Adjusting entries equity section of the statement of financial
> Closing entries position.
Shareholders' Equity > Prepare the financial statements of a corporation
Contributed Capital specifically the statement of changes in
> Share Capital shareholders' equity.
> Additional Paid-in Capital > Identify the different types of dividends and
Retained Earnings compute amount of dividends to be distributed
> Appropriated to preference and ordinary shareholders.
> Unappropriated > Compute book value and earnings per share.
Dividends: > Identify and explain the different types of
> Cash retained earnings appropriations.
> Scrip
> Property
> Stock
Book value per share / Earnings per share:
> One class of share capital
> Two classes of share capital

Lesson Eight Upon completion of this lesson, students

Weeks 3 & 4 Share Capital Transactions Subsequent to Original should be able to: Lecture - demonstration
(12 hours ) Issuance > Identify and explain the various share capital Class Discussion
transactions subsequent to original issuance. Power Point Presentation
Share Capital Transactions Other Than Acquisition > Explain the method of acquiring treasury shares. Problem Solving
of Treasury Shares: > Explain the accounting for treasury shares.
 > Retirement
> Conversion of preference shares into ordinary
shares
> Share (Stock) split
> Recapitalization
Treasury Shares:
> Acquisition by Purchase
> Acquisition by Donation
> Method of Accounting - Cost method
 V. Textbook and References:

1. Baysa, Gloria J. (2018) Acctg. for Partnership & Corp. Millenium Books, Inc.
2. Ballada,Win (2020) Partnership & Corporation Accounting DomDane Publishers & Made Easy Books

VI. COURSE REQUIREMENTS:

1. Quizzes
2 . Recitation
3. Assignments
4. Chapter Test / Long Exams
VII. GRADING SYSTEM:
Grades Are Computed As Follows:
Preliminary Average = ( C.S. x 2 ) + Preliminary Exam
3

Mid -Term Average = ( C.S. x 2 ) + Mid - Term Exam

Final Average = ( C.S. x 2 ) + Final Exam

3

Final Grade = Prelim Average + Mid-Term Average + Final Average

3
Class Standing Is The Sum Of The All Percentage Ratings In Quizzes, Recitation, Debates, Assignments, And Case Analysis

The following formula is used on grade transmutation:

Raw Score x 50 + 50
Number of Items

Prepared by : Recommending Approval: Approved by :

JEFFERSON L. TRIGUERO, CPA, MBA JEFFERSON L. TRIGUERO, CPA, MBA MERCEDES G. SANCHEZ, Ed. D.
Instructor Dept. Chair - Accountancy Vice President for Academics, Student Affairs
and Extension Services
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