Denric Dagcasin

BS - Accountancy
A.) Income Summary 120,000
Joffre, Capital 80,000
Ric, Capital 40,000
To distribute the profit and loss based on a 2:1 ratio

B.) Income Summary 120,000

Joffree, Capital 60,000
Ric, Capital 60,000
To distribute the profit and loss equally

C.)* Income Summary 540,000

Joffre, Capital 324,000
Ric, Capital 216,000
To distribute interest to the partners

* Income Summary 420,000

Joffre, Capital 210,000
Ric, Capital 210,000
To distribute equally the remaining profit to the partners

Joffree Ric Total

18% on capital 324,000 216,000 540,000
reminder equally -210,000 -210,000 -420,000
114,000 6,000 120,000

D.)* Income Summary 72,000

Ric, Capital 72,000
To distribute salary to Ric

* Income Summary 48,000

Joffre, Capital 28,000
Ric, Capital 19,200
To distribute the balanced based on the capital ratio

Joffre Ric Total

Salary to Ric 72,000 72,000
reminder based on capital ratio 28,800 19,200 48,000
28,800 91,200 120,000

E.) *Income Summary 360,000

Joffre, Capital 216,000
Ric, Capital 144,000
To distribute interest to the partners
* Income Summary 72,000
Joffre, Capital 36,000
Ric, Capital 36,000
To distribute salary to partners

* Income Summary 312,000

Joffre, Capital 156,000
Ric, Capital 156,000
To distribute the remaining profit equally

Joffre Ric Total

12% on capital 216,000 144,000 360,000
Salary to each partner 36,000 36,000 72,000
remainder equally -156,000 -156,000 -312,000
96,000 24,000 120,000
A.) Joffre, Capital 60,000
Ric, Capital 30,000
Income Summary 90,000

B.) Joffree, Capital 45,000

Ric, Capital 45,000
Income Summary 90,000

C.) * Joffre, Capital 324,000

Ric, Capital 216,000
Income Summary 540,000

* Joffre, Capital 315,000

Ric, Capital 315,000
Income Summary 630,000

D.) Ric, Capital 72,000

Income Summary 72,000

Joffree, Capital 97,200

Ric, Capital 64,800
Income Summary 162,000

E.) Joffre, Capital 216,000

Ric, Capital 144,000
Income Summay 360,000

Joffre, Capital 36,000

Ric, Capital 36,000
Income Summary 72,000

Joffre, Capital 261,000

Ric, Capital 261,000
Income Summary 522,000
 JR Asia Consultancy Firm
Statement of Changes in Partners' Equity
For the Year Ended December 20xx
Joffre Ric Total
Beginning Capital 1,800,000 1,200,000 3,000,000
Add: Share in net income 72,000 48,000 120,000
Less: Regular Drawings 108,000 108,000
Ending Capital 1,872,000 1,140,000 3,012,000

JR Asia Consultancy Firm

Statement of Changes in Partners' Equity
For the Year Ended December 20xx
Joffre Ric Total
Beginning Capital 1,872,000 1,140,000 3,012,000
Add: Share in net loss -54,000 -36,000 -90,000
Less: Regular Drawings 108,000 108,000
Ending Capital 1,818,000 996,000 2,814,000