Requirement A

Equipment - Truck ₱ 400,000

Note payable ₱ 120,000
Ger, Capital 280,000
To record Ger's capital investment

Cash 300,000
Inventory 50,000
Veg, Capital 350,000
To record Veg's capital investment

Requirement B

Ger, Capital ₱ 35,000

Veg, Capital ₱ 35,000
To record partners' agreement on capital interest
Requirement C

Ger's capital balance ₱ 280,000

Veg's capital balance 350,000
Total 630,000
Divide equally by 2
Partnership's capital balance ₱ 315,000
Requirement A

Cash ₱ 730,000
Accounts Receivable 341,500
Inventory 249,300
Equipment,net 250,000
Building, net 800,000
Accounts Payable ₱ 195,000
Accrued Expense 100,000
Enci, Capital 830,500
Lali, Capital 1,245,300
Initial entry for partnership formation

Requirement B

Statement of Financial Position

Assets
Cash ₱ 730,000
Accounts Receivable 341,500
Inventory 249,300
Equipment 250,000
Building 800,000
Total Assets ₱ 2,370,800

Liabilities and Equity

Accounts Payable ₱ 195,000
Accrued Expenses 100,000
Enci, Capital 830,500
Lali, Capital 1,245,300
Total Liabilities and Equity ₱ 2,370,800
 Enci Lali Partnership
Assets
Cash ₱ 420,000 ₱ 310,000 ₱ 730,000
Accounts receivable 112,000 229,500 341,500
Inventory 148,500 100,800 249,300
Equipment, net 250,000 250,000
Building, net 800,000 800,000
Total assets 930,500 1,440,300 2,370,800
Accounts Payable 195,000 195,000
Accrued Expenses 100,000 100,000
Adjusted Capital Balances ₱ 830,500 ₱ 1,245,300 ₱ 2,075,800