Mones Pitular

Initial Investment ₱2,000,000.00 ₱1,000,000.00

Mones 2,000,000.00
Pitular 1,000,000.00
Tuazon

Salary allowances
Mones 120,000.00
Pitular 60,000.00
Tuazon

Interest
Mones 100,000.00
Pitular 50,000.00
Tuazon

Remainder
(90,000.00)
Mones -45000
Pitular -22500
Tuazon

SUBTOTAL 175,000.00 87,500.00

Problem #11

Calamba And Santiago

Income Statement
For the Yer Ended December 31

Net Sales
Sales
Less: Sales Return & Allowance
Sales Discount
Net Sales
 Cost of Sales
Merchandise Inventory 01/01/22
Purchase 5,407,160.00
Less: Purchase Return & Allowance 259,600.00
Purchase Discount 43,050.00 302,650.00
Net Purchase 5,104,510.00
Transportation In 224,880.00
Net Cost of Purchases
Good Available for Sale
Less: Merchandise Inventory 12/31/22
Cost of Sales

Gross Profit
General Expense 149,390.00
Selling Expense 385,880.00
Interest Expense 35,000.00
Total Operating Expense
Operating Profit

Calamba Santiago
Initial Investment 612000.00 499600.00
Salary
Calamba 330000.00
Santiago 290000.00

Interest
61200.00
49960.00

Remainder
1,468,850.00
734425.00
734425.00
Profit 1125625.00 1074385.00

Calamba And Santiago

Statement of Change in Partner's Equity
For the Year Ended December 31, 2022
 Calmba Santiago
Original Investement 612,000.00 499,600.00
Add: Additional Investment 61,200.00 49,960.00
Total 673,200.00 549,560.00
Less: Permanent Withdrawal 326,400.00 244,800.00
Balances 346,800.00 304,760.00
Add: Profit 1,125,625.00 1,074,385.00
Total 1,472,425.00 1,379,145.00
Less: Temporary Withdrawal 0.00 0.00
Partner's Equity, December 31 1,472,425.00 1,379,145.00

Calamba And Santiago

Financial Position
For the Year Ended December 31, 2022

Asset
Cash ₱132,310.00
Accounts Receivable 545,070.00
Allowance for Uncollectible Accounts 18,790.00 526,280.00
Merchandise Inventory 0.00
Prepaid Insurance 7,350.00
Equipment 753,150.00
Accumulated Depreciation-Equipmen 462,870.00 290,280.00
Total Asset 956,220.00

Liabilities & Partner's Equity

Account Payable 677820
Notes Payable 299000

Calamba, Capital 1,472,425.00

Santiago, Capital 1,379,145.00
3,828,390.00
Tuazon TOTAL
₱1,000,000.00 ###

3,000,000.00

60,000.00 240,000.00

50,000.00 200,000.00

-22500 -90000

87,500.00 350,000.00

###
375,750.00
0.00 375,750.00
6,779,250.00
1,440,590.00

5,329,390.00
0.00
1,320,420.00
4,008,970.00

570,270.00
2,200,010.00

1111600.00

620000.00

111160.00

1468850.00
TOTAL
1,111,600.00
111,160.00
1,222,760.00
571,200.00
651,560.00
2,200,010.00
2,851,570.00
0.00
2,851,570.00
Initial Investment

Salaries Allowance

Interest

Remainder

SubTotal