Formation

Problem 1
Maki Cali Total
Cash ₱ 120,000.00
Accounts Receivables ₱ 238,000.00
Inventories ₱ 260,000.00
Equipment ₱ 350,000.00
Prepaid exp. ₱ 18,000.00
Accounts payable -₱ 190,000.00
Accrued exp. -₱ 9,000.00
₱ 787,000.00
₱ 1,773,000.00

Problem 2
Bastin Jieber Total
Beg, Capt. ₱ 1,630,000.00 ₱ 820,000.00 ₱ 2,450,000.00
Cash ₱ 130,000.00 ₱ 110,000.00 ₱ 240,000.00
Accounts receivable ₱ 235,000.00 ₱ 178,000.00 ₱ 413,000.00
Inventory ₱ 370,000.00 ₱ 247,000.00 ₱ 617,000.00
Equipment ₱ 600,000.00 ₱ 600,000.00
Land ₱ 650,000.00 ₱ 650,000.00
building ₱ 800,000.00 ₱ 800,000.00
Accounts payable -₱ 190,000.00 -₱ 70,000.00 -₱ 260,000.00
Notes Payable -₱ 210,000.00 -₱ 210,000.00
Mortgage Payable -₱ 280,000.00 -₱ 280,000.00
₱ 1,542,000.00 ₱ 1,028,000.00 ₱ 2,570,000.00
₱ 1,715,000.00 ₱ 855,000.00
₱ 85,000.00 ₱ 35,000.00

Problem 3
Keqing Ganyu
1/1/2020 Cash ₱ 450,000.00
Inventories ₱ 650,000.00
Land
3/31/2020 Additional Cash ₱ 180,000.00 ₱ 240,000.00
7/1/2020 Additional Cash ₱ 250,000.00
Withdrawals -₱ 100,000.00

Profit/Loss ₱ 30,000.00 ₱ 15,000.00

₱ 560,000.00 ₱ 1,155,000.00

Keqing Ganyu Ningguang

 1/1/2020 ₱ 450,000.00 ₱ 650,000.00 ₱ 900,000.00
3/31/2020 ₱ 180,000.00 ₱ 240,000.00
7/1/2020 -₱ 100,000.00 ₱ 250,000.00 -₱ 100,000.00
530,000.00 1,140,000.00 800,000.00
₱ 30,000.00 ₱ 15,000.00 ₱ 75,000.00
₱ 560,000.00 ₱ 1,155,000.00 ₱ 875,000.00

Problem 4
Maria Rose Sheena
1/1/2020 ₱ 735,000.00 ₱ 1,425,000.00 ₱ 840,000.00
3/1/2020 ₱ 220,000.00
6/30/2020 ₱ 110,000.00 ₱ 130,000.00
8/31/2020 ₱ 65,000.00 ₱ 65,000.00 -₱ 90,000.00

11/30/2020 ₱ 150,000.00 ₱ 150,000.00 ₱ 150,000.00

Beg, Capital ₱ 1,170,000.00 ₱ 1,750,000.00 ₱ 1,030,000.00
Profit ₱ 90,000.00 ₱ 150,000.00 ₱ 120,000.00
₱ 1,150,000.00
₱ 106,632.91
₱ 1,276,632.91

Problem 5
Ichiji Niji Sanji
1/1/2020 ₱ 120,000.00 ₱ 210,000.00 ₱ 530,000.00
5/1/2020 ₱ 75,000.00 ₱ 75,000.00
6/30/2020 ₱ 90,000.00

9/30/2020 ₱ 30,000.00 ₱ 30,000.00 ₱ 30,000.00

Capital ₱ 225,000.00 ₱ 330,000.00 ₱ 635,000.00
11/30/2020 -₱ 11,250.00 -₱ 16,500.00 -₱ 31,750.00
Profit ₱ 130,370.0

Ichiji Niji Sanji

1/1/2020 ₱ 120,000.00 ₱ 210,000.00 ₱ 530,000.00
5/1/2020 ₱ 50,000.00 ₱ 50,000.00
6/30/2020 ₱ 45,000.00
9/30/2020 ₱ 7,500.00 ₱ 7,500.00 ₱ 7,500.00
11/30/2020 -₱ 937.50 -₱ 1,375.00 -₱ 2,645.83
₱ 176,562.50 ₱ 261,125.00 ₱ 584,854.17
Operation
Problem 6
Bulbasaur Charmander Squirtle
Unadjusted ₱ 350,000.00 ₱ 425,000.00 ₱ 225,000.00
10% ₱ 35,000.00 ₱ 42,500.00 ₱ 22,500.00
Salary ₱ 10,000.00 ₱ 10,000.00
Bonus ₱ 100,000.00
Profit ₱ 60,000.00 ₱ 60,000.00 ₱ 60,000.00
₱ 105,000.00 ₱ 202,500.00 ₱ 92,500.00

Bulbasaur Charmander Squirtle

Unadjusted ₱ 350,000.00 ₱ 425,000.00 ₱ 225,000.00
10% ₱ 35,000.00 ₱ 42,500.00 ₱ 22,500.00
Salary ₱ 10,000.00 ₱ 10,000.00
Bonus ₱ 70,000.00
Profit ₱ 70,000.00 ₱ 70,000.00 ₱ 70,000.00
₱ 607,500.00

Problem 7
Venusaur Charizard Blastoise
Unadjusted 250,000.00 400,000.00 350,000.00
7% 17,500.00 28,000.00 24,500.00
Salary 20,000.00 20,000.00 20,000.00
Bonus 25,200.00
Profit 13,777.78
58,277.78

Venusaur Charizard Blastoise

Unadjusted 250,000.00 400,000.00 350,000.00
7% 17,500.00 28,000.00 24,500.00
Salary 20,000.00 20,000.00 20,000.00
Bonus 36,000.00
Profit 4,667 1,556.00 7,777.00
449,556.00

Bea Gerald Julia

Unadjusted 120,000.00 80,000.00
Transfer
 Dissolution
Problem 8
Bea Gerald Julia
Unadjusted ₱ 120,000.00 ₱ 80,000.00
Transfer -₱ 60,000.00 ₱ 60,000.00
Agreed Capital ₱ 60,000.00 ₱ 80,000.00 ₱ 60,000.00

Bea Gerald Julia

Unadjusted ₱ 120,000.00 ₱ 80,000.00
Transfer -₱ 60,000.00 -₱ 40,000.00 ₱ 100,000.00
Agreed Capital ₱ 60,000.00 ₱ 40,000.00 ₱ 100,000.00

Bea Gerald Julia

Unadjusted ₱ 120,000.00 ₱ 80,000.00
Transfer -₱ 30,000.00 ₱ 20,000.00 ₱ 50,000.00
Agreed Capital ₱ 90,000.00 ₱ 100,000.00 ₱ 50,000.00

Problem 9
Xylah Yannah Zeb
Capital ₱ 120,000.00 ₱ 105,000.00 ₱ 95,000.00
Revaluation -₱ 8,000.00 -₱ 6,000.00 -₱ 6,000.00
Adjusted Capital ₱ 112,000.00 ₱ 99,000.00 ₱ 89,000.00
Transfer -₱ 28,000.00 -₱ 24,750.00 -₱ 22,250.00
Agreed Capital ₱ 84,000.00 ₱ 74,250.00 ₱ 66,750.00

Xylah Yannah Zeb

Capital ₱ 120,000.00 ₱ 105,000.00 ₱ 95,000.00
Revaluation ₱ 12,000.00 ₱ 9,000.00 ₱ 9,000.00
Adjusted Capital ₱ 132,000.00 ₱ 114,000.00 ₱ 104,000.00
Transfer -₱ 26,400.00 -₱ 22,800.00 -₱ 20,800.00
Agreed Capital ₱ 105,600.00 ₱ 91,200.00 ₱ 83,200.00

Problem 10
Angel black Total
Capital ₱ 200,000.00 ₱ 100,000.00 ₱ 300,000.00
Agreed Capital ₱ 210,000.00 ₱ 110,000.00 ₱ 320,000.00
Bonus/Revaluation ₱ 10,000.00 ₱ 10,000.00 ₱ 20,000.00

Angel black Total

Capital ₱ 200,000.00 ₱ 100,000.00 ₱ 300,000.00
Agreed Capital ₱ 185,000.00 ₱ 85,000.00 ₱ 270,000.00
Bonus/Revaluation -₱ 15,000.00 -₱ 15,000.00 -₱ 30,000.00
 Angel black Total
Capital ₱ 200,000.00 ₱ 100,000.00 ₱ 300,000.00
Agreed Capital ₱ 250,000.00 ₱ 150,000.00 ₱ 400,000.00
Bonus/Revaluation ₱ 50,000.00 ₱ 50,000.00 ₱ 100,000.00

Angel black Total

Capital ₱ 200,000.00 ₱ 100,000.00 ₱ 300,000.00
Agreed Capital ₱ 170,000.00 ₱ 70,000.00 ₱ 240,000.00
Bonus/Revaluation -₱ 30,000.00 -₱ 30,000.00 -₱ 60,000.00

Problem 11
Tito Boy Total
Capital ₱ 500,000.00 ₱ 300,000.00 ₱ 800,000.00
Agreed Capital ₱ 524,000.00 ₱ 316,000.00 ₱ 840,000.00
Bonus/Revaluation ₱ 24,000.00 ₱ 16,000.00 ₱ 40,000.00

Tito Boy Total

Capital ₱ 500,000.00 ₱ 300,000.00 ₱ 800,000.00
Agreed Capital ₱ 620,000.00 ₱ 380,000.00 ₱ 1,000,000.00
Bonus/Revaluation ₱ 120,000.00 ₱ 80,000.00 ₱ 200,000.00

Tito Boy Total

Capital ₱ 500,000.00 ₱ 300,000.00 ₱ 800,000.00
Agreed Capital ₱ 470,000.00 ₱ 280,000.00 ₱ 750,000.00
Bonus/Revaluation -₱ 30,000.00 -₱ 20,000.00 -₱ 50,000.00

Tito Boy Total

Capital ₱ 500,000.00 ₱ 300,000.00 ₱ 800,000.00
Agreed Capital ₱ 380,000.00 ₱ 220,000.00 ₱ 600,000.00
Bonus/Revaluation -₱ 120,000.00 -₱ 80,000.00 -₱ 200,000.00

Problem 12
Tik Tok Erish
Unadjusted ₱ 600,000.00 ₱ 700,000.00 ₱ 400,000.00
Share in Profit ₱ 120,000.00 ₱ 180,000.00 ₱ 60,000.00
Drawings -₱ 70,000.00 -₱ 80,000.00 -₱ 40,000.00
Adjusted ₱ 650,000.00 ₱ 800,000.00 ₱ 420,000.00
Transfer ₱ 280,000.00 ₱ 140,000.00
₱ 930,000.00 ₱ 940,000.00

Tik Tok Erish

Unadjusted ₱ 600,000.00 ₱ 700,000.00 ₱ 400,000.00
Share in Profit ₱ 120,000.00 ₱ 180,000.00 ₱ 60,000.00
Drawings -₱ 70,000.00 -₱ 80,000.00 -₱ 40,000.00
Adjusted ₱ 650,000.00 ₱ 800,000.00 ₱ 420,000.00
Transfer -₱ 420,000.00
Agreed Capital ₱ 650,000.00 ₱ 800,000.00

Tik Tok Erish

Unadjusted ₱ 600,000.00 ₱ 700,000.00 ₱ 400,000.00
Share in Profit ₱ 120,000.00 ₱ 180,000.00 ₱ 60,000.00
Drawings -₱ 70,000.00 -₱ 80,000.00 -₱ 40,000.00
Adjusted ₱ 650,000.00 ₱ 800,000.00 ₱ 420,000.00
Bonus/Revaluation ₱ 16,000.00 ₱ 24,000.00 -₱ 40,000.00
Agreed Capital ₱ 666,000.00 ₱ 824,000.00

Tik Tok Erish

Unadjusted ₱ 600,000.00 ₱ 700,000.00 ₱ 400,000.00
Share in Profit ₱ 120,000.00 ₱ 180,000.00 ₱ 60,000.00
Drawings -₱ 70,000.00 -₱ 80,000.00 -₱ 40,000.00
Adjusted ₱ 650,000.00 ₱ 800,000.00 ₱ 420,000.00
Bonus/Revaluation -₱ 80,000.00 -₱ 120,000.00 -₱ 40,000.00
Agreed Capital ₱ 570,000.00 ₱ 680,000.00 ₱ 380,000.00

Tik Tok Erish

Unadjusted ₱ 600,000.00 ₱ 700,000.00 ₱ 400,000.00
Share in Profit ₱ 120,000.00 ₱ 180,000.00 ₱ 60,000.00
Drawings -₱ 70,000.00 -₱ 80,000.00 -₱ 40,000.00
Adjusted ₱ 650,000.00 ₱ 800,000.00 ₱ 420,000.00
Bonus/Revaluation -₱ 18,000.00 -₱ 27,000.00 ₱ 45,000.00
Agreed Capital ₱ 632,000.00 ₱ 773,000.00 ₱ 465,000.00

Tik Tok Erish

Unadjusted ₱ 600,000.00 ₱ 700,000.00 ₱ 400,000.00
Share in Profit ₱ 120,000.00 ₱ 180,000.00 ₱ 60,000.00
Drawings -₱ 70,000.00 -₱ 80,000.00 -₱ 40,000.00
Adjusted ₱ 650,000.00 ₱ 800,000.00 ₱ 420,000.00
Bonus/Revaluation ₱ 90,000.00 ₱ 135,000.00 ₱ 45,000.00
Agreed Capital ₱ 740,000.00 ₱ 935,000.00 ₱ 465,000.00

Liquidation
Problem 13
Cash Non-Cash Liabilities
Balance ₱ 80,000.00 ₱ 1,080,000.00 ₱ 290,000.00
Realization ₱ 650,000.00 -₱ 1,080,000.00
Liabilities -₱ 290,000.00 -₱ 290,000.00
Balance ₱ 440,000.00 ₱ - ₱ -
Purchase Price -₱ 440,000.00
 Cash Non-Cash Liabilities
Balance ₱ 80,000.00 ₱ 1,080,000.00 ₱ 290,000.00
Realization ₱ 500,000.00 -₱ 1,080,000.00
Liabilities -₱ 290,000.00 -₱ 290,000.00
Balance ₱ 290,000.00 ₱ - ₱ -
Purchase Price -₱ 290,000.00

Cash Non-Cash Liabilities

Balance ₱ 80,000.00 ₱ 1,080,000.00 ₱ 290,000.00
Realization ₱ 320,000.00 -₱ 1,080,000.00
Liquidation Expense -₱ 6,000.00
Liabilities -₱ 290,000.00 -₱ 290,000.00
Balance ₱ 104,000.00 ₱ - ₱ -
Purchase Price -₱ 104,000.00

Problem 14
Cash Non-Cash Liablilities
Balance ₱ 200,000.00 ₱ 500,000.00 ₱ 250,000.00
Realization ₱ 260,000.00 -₱ 300,000.00
₱ 230,000.00 -₱ 200,000.00
Income Summary ₱ 24,000.00
Allowance Doubtful Accounts ₱ 24,000.00

Income Summary ₱ 15,000.00

Inventories ₱ 15,000.00

Accumulated Dep. ₱ 40,000.00

Income Summary ₱ 40,000.00

Prepaid Expenses ₱ 18,000.00

Accrued Expense ₱ 9,000.00
Income summary ₱ 9,000.00

Income summary ₱ 7,000.00

Allowance Doubtful Accounts ₱ 7,000.00

Income summary ₱ 13,000.00

Inventories ₱ 13,000.00

Accumulated Dep. Eqt ₱ 40,000.00

Income summary ₱ 40,000.00

Accumulated Dep. Land ₱ 30,000.00

Income Summary ₱ 30,000.00

Accumulated Dep. Building 70,000.00

Income Summary 70,000

Ningguang Total
450,000.00
650,000.00
₱ 900,000.00 900,000.00
420,000.00
250,000.00
- 100,000.00 - 200,000.00
2,470,000.00
75,000.00 120,000.00
₱ 875,000.00

Total
 2,000,000.00
420,000.00
50,000.00
2,470,000.00
120,000.00

Total
3,000,000.00
220,000.00
240,000.00
40,000.00
3,500,000.00
3,950,000.00

360,000.00

Yonji Total
₱ 340,000.00 ₱ 1,200,000.00
₱ 150,000.00
₱ 90,000.00 ₱ 180,000.00
₱ 1,530,000.00
₱ 30,000.00 ₱ 1,650,000.00
₱ 460,000.00
-₱ 23,000.00 -₱ 82,500.00
₱ 87,065.02 ₱ 315,000.00
₱ 524,065

Yonji Total
₱ 340,000.00

₱ 45,000.00
₱ 7,500.00
-₱ 1,916.67
₱ 390,583.33 ₱ 1,413,125.00
Total
₱ 1,000,000.00
₱ 100,000.00
₱ 20,000.00
₱ 100,000.00
₱ 220,000.00 ₱ 180,000.00

Total
₱ 1,000,000.00
₱ 100,000.00
₱ 20,000.00
₱ 70,000.00
₱ 190,000.00 ₱ 210,000.00

Total
1,000,000.00
70,000.00
60,000.00
25,200.00
155,200.00 24,800.00

Total
1,000,000.00
70,000.00
60,000.00
36,000.00
166,000.00 14,000.00

Total
Purchase Price ₱ 110,000.00
Book Value ₱ 100,000.00
Loss -₱ 10,000.00

Purchase Price ₱ 46,000.00

Book Value ₱ 50,000.00
Gain ₱ 4,000.00

Vivi Total
₱ 320,000.00
-₱ 20,000.00
₱ 300,000.00
₱ 75,000.00
₱ 75,000.00 ₱ 300,000.00

Vivi Total
₱ 320,000.00
₱ 30,000.00

₱ 70,000.00
₱ 70,000.00 ₱ 350,000.00

Red Total
₱ 100,000.00 ₱ 400,000.00
₱ 80,000.00 ₱ 400,000.00
-₱ 20,000.00 -

Red Total
₱ 60,000.00 ₱ 360,000.00
₱ 90,000.00 ₱ 360,000.00
₱ 30,000.00
 Red Total
₱ 100,000.00 ₱ 500,000.00
₱ 100,000.00 ₱ 500,000.00
₱ -

Red Total
₱ 60,000.00 ₱ 300,000.00
₱ 60,000.00 ₱ 300,000.00
₱ -

Ekawna Total Bonus

₱ 250,000.00 ₱ 1,050,000.00
₱ 210,000.00 ₱ 1,050,000.00
-₱ 40,000.00

Ekawna Total Revaluation

₱ 250,000.00 ₱ 1,050,000.00
₱ 250,000.00 ₱ 1,250,000.00
₱ - ₱ 200,000.00

Ekawna Total Bonus

₱ 200,000.00 ₱ 1,000,000.00
₱ 250,000.00 ₱ 1,000,000.00
₱ 50,000.00 ₱ -

Ekawna Total Revaluation

₱ 200,000.00 ₱ 1,000,000.00
₱ 200,000.00 ₱ 800,000.00
₱ - -₱ 200,000.00

Total
₱ 1,700,000.00
₱ 360,000.00
-₱ 190,000.00
₱ 1,870,000.00

Total Takatak
₱ 1,700,000.00 ₱ 420,000.00
₱ 360,000.00
-₱ 190,000.00
₱ 1,870,000.00
 ₱ 420,000.00
₱ 420,000.00

Total Bonus
₱ 1,700,000.00
₱ 360,000.00
-₱ 190,000.00
₱ 1,870,000.00

Total Revaluation
₱ 1,700,000.00
₱ 360,000.00
-₱ 190,000.00
₱ 1,870,000.00
-₱ 240,000.00
₱ 1,630,000.00

Total Bonus
₱ 1,700,000.00
₱ 360,000.00
-₱ 190,000.00
₱ 1,870,000.00

Total Revaluation
₱ 1,700,000.00
₱ 360,000.00
-₱ 190,000.00
₱ 1,870,000.00
₱ 270,000.00
₱ 2,140,000.00

Eastwo, Capital Coolight, Capital Chi, Capital

₱ 280,000.00 ₱ 320,000.00 ₱ 270,000.00
-₱ 172,000.00 -₱ 129,000.00 -₱ 129,000.00

₱ 108,000.00 ₱ 191,000.00 ₱ 141,000.00

-₱ 108,000.00 -₱ 191,000.00 -₱ 141,000.00
Eastwo, Capital Coolight, Capital Chi, Capital
₱ 280,000.00 ₱ 320,000.00 ₱ 270,000.00
-₱ 174,000.00 -₱ 290,000.00 -₱ 116,000.00

₱ 106,000.00 ₱ 30,000.00 ₱ 154,000.00

-₱ 106,000.00 -₱ 30,000.00 -₱ 154,000.00

Eastwo, Capital Coolight, Capital Chi, Capital

₱ 280,000.00 ₱ 320,000.00 ₱ 270,000.00
-₱ 266,000.00 -₱ 304,000.00 -₱ 190,000.00

₱ 14,000.00 ₱ 16,000.00 ₱ 80,000.00

-₱ 14,000.00 -₱ 16,000.00 -₱ 80,000.00

Abra, Loan Abra, Capital Braq, capital Cabra, Capital

₱ 70,000.00 ₱ 200,000.00 ₱ 30,000.00 ₱ 150,000.00
-₱ 12,000.00 -₱ 16,000.00 -₱ 12,000.00
Problem 12
Tik Tok Erish
Unadjusted
Share in Profit
Drawings
Adjusted