Problem #20

1 Ibrhaim, Capital 50,000

Basa, Capital 2,400
Cebelo, Capital 1,600
Cash 54,000

2 Ibrahim, Capital 50,000

Basa, Capital 3,000
Cebedo, Capital 2,000
Cash 45,000

3 2 1
3 Cebedo Basa Ibrahim
Bal. Before Adjustment 120,000 60,000 50,000
Equipmet (Realization)
30,000 (.60) 18,000
Excess = 12,000
Fair value = 9,000
Loss on Realization = 3,000 -1,500 -1,000 -500
Total after realization 118,500 59,000 49,500
Settlement : Cash -40,500
Plant Equipment 9,000
118,500 59,000

Cash 9,000 Ibrahim, Capital 49,500

Cebedo, Capital 1,500 Cash 49500
Basa, Capital 1,000
Ibrahim, Capital 500
Plant Assets 12,000
 Problem #21
20% 20% 20% 40%
Rivadelo Del Mundo Galvan Samson
1 Bal. Before 60,000 80,000 70,000 40,000
-50,000
20,000

Galvan, Capital 70,000 Gain on retirement of a partner

Cash 50,000 Rivadelo Del Mundo
Gain on retirement of a partner 20,000 5,000 5,000

2 200,000
Interest Ratio AC CC RATIO DIFF
10% Mamitag 22,000 20,000 2,000
Rivaledo 59,500 60,000 20% -500
Del Mundo 79,500 80,000 20% -500
Samson 39,000 40,000 40% -1,000
200,000 200,000 0

Cash 20,000
Mamitag, Capital 20,000

Rivadelo, Capital 500

Del Mundo, Capital 500
Samson, Capital 1,000
Mamitag, Capital 2,000
 20,000
Samson
10,000
 Problem 322 Death of the Partner

1 Burgos Albao Cero Pascual TOTAL

Balance bef. Settlement 500,000 250,000 350,000 250,000 1,350,000
-250,000
100,000
Bonus 33,333.33 33,333.33 33,333.33 100,000.00
Capital after settlement 533,333 283,333 283,333

2 Burgos Albao Cero Pascual TOTAL

Balance bef. Settlement 500000 250000 350000 250000 1350000
500,000
150,000
Payment to Cero -50,000 -50,000 -50,000 100000
Capital after settlement 450000 200000 200000

Cero, Capital 350,000

Burgos, Capital 50,000
Albao, Capital 50,000
Pascual, Capital 50,000
Cash 500,000

3 Burgos Albao Cero Pascual TOTAL

Balance bef. Settlement 500000 250000 350000 250000 1350000
Purchase of Pascual -350,000 350,000
600000

Capital after settlement 500000 250000 600000

Cero, Capital 350,000

Pascual, Capital 350,000
Problem 23
Incorporation of a Partnership

TOTAL ASSETS 200,000 + 24,000 (fair value) = 224,000 - 40,000 (liabilities) = 184,000
Shares 10,000 (2) = 20,000
Additional paid in capital 184,000- 20,000 = 164,000

Asset 184,000
Shareholder's Equity 184,000

Common Stocks 20,000

Shareholder's Equity 20,000