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Acctg 2 Reporting Group 2 (AutoRecovered)
Acctg 2 Reporting Group 2 (AutoRecovered)
PARALE DEMAFELIS
average investment ₱ 200,000.00 ₱ 100,000.00
salary ₱ 70,000.00 ₱ 70,000.00
interest 15% ₱ 30,000.00 ₱ 15,000.00
remainder ₱ (20,000.00) ₱ (15,000.00)
total profit ₱ 80,000.00 ₱ 70,000.00
PARALE DEMAFELIS
average investment ₱ 200,000.00 ₱ 100,000.00
salary ₱ 70,000.00 ₱ 70,000.00
interest 15% ₱ 30,000.00 ₱ 15,000.00
remainder ₱ (280,000.00) ₱ (210,000.00)
total loss ₱ (180,000.00) ₱ (125,000.00)
PARALE DEMAFELIS
average investment ₱ 200,000.00 ₱ 100,000.00
ratio ₱ 0.29 ₱ 0.14
salary ₱ 70,000.00 ₱ 70,000.00
interest 15% ₱ 30,000.00 ₱ 15,000.00
remainder ₱ 10,150.00 ₱ 4,900.00
total profit ₱ 110,150.00 ₱ 89,900.00
LOPEZ TOTAL
₱ 400,000.00 ₱ 700,000.00
₱ 70,000.00 ₱ 210,000.00
₱ 315,000.00
₱ 60,000.00 ₱ 105,000.00
₱ 20,000.00 ₱ 90,000.00
₱ 150,000.00 ₱ 405,000.00
LOPEZ TOTAL
₱ 400,000.00 ₱ 700,000.00
₱ 70,000.00 ₱ 210,000.00
₱ 315,000.00
₱ 60,000.00 ₱ 105,000.00
₱ (10,000.00) ₱ (45,000.00)
₱ 120,000.00 ₱ 270,000.00
LOPEZ TOTAL
₱ 400,000.00 ₱ 700,000.00
₱ 70,000.00 ₱ 210,000.00
₱ 315,000.00
₱ 60,000.00 ₱ 105,000.00
₱ (140,000.00) ₱ (630,000.00)
₱ (10,000.00) ₱ (315,000.00)
LOPEZ TOTAL
₱ 400,000.00 ₱ 700,000.00
₱ 0.57
₱ 70,000.00 ₱ 210,000.00
₱ 315,000.00
₱ 60,000.00 ₱ 105,000.00
₱ 19,950.00 ₱ 35,000.00
₱ 149,950.00 ₱ 350,000.00
average investment ₱ 50,000.00 ₱ 25,000.00
ratio ₱ 0.30 ₱ 0.30
₱ 2,500.00 ₱ 1,250.00
salary ₱ 5,000.00 ₱ 3,000.00
DISTRIBUTION OF REMAINDER ₱ 5,000.10 ₱ 5,000.10
total profit ₱ 12,500.10 ₱ 9,250.10
₱ 7,500.00 ₱ 4,250.00
₱ 25,000.00 ₱ 20,000.00 ₱ 120,000.00
₱ 0.20 ₱ 0.20
₱ 1,250.00 ₱ 1,000.00 ₱ 6,000.00
₱ 2,500.00 ₱ 6,000.00 ₱ 16,500.00
₱ 3,333.40 ₱ 3,333.40 ₱ 16,667.00
₱ 7,083.40 ₱ 10,333.40 ₱ 39,167.00
₱ 16,667.00
₱ 39,167.00
A. PROFIT OF ₱ 405,000.00
average capital:
Parale ₱ 200,000.00
Demafels ₱ 100,000.00
Lopez ₱ 400,000.00
salaries:
Parale ₱ 70,000.00
Demafele ₱ 70,000.00
Lopez ₱ 70,000.00
Journal entry
debit credit
income summary ₱ 405,000.00
Parale, drawing ₱ 140,000.00
Demafels, drawing ₱ 115,000.00
Lopez, drawing ₱ 150,000.00
₱ 405,000.00 ₱ 405,000.00
Lopez Total
₱ 70,000.00 ₱ 210,000.00
₱ 60,000.00 ₱ 105,000.00
₱ 20,000.00 ₱ 90,000.00
₱ 150,000.00 ₱ 405,000.00
B. PROFIT OF ₱ 270,000.00
average capital:
Parale ₱ 200,000.00
Demafels ₱ 100,000.00
Lopez ₱ 400,000.00
salaries:
Parale ₱ 70,000.00
Demafele ₱ 70,000.00
Lopez ₱ 70,000.00
Journal entry
debit credit
income summary ₱ 270,000.00
Parale, drawing ₱ 80,000.00
Demafels, drawing ₱ 70,000.00
Lopez, drawing ₱ 120,000.00
₱ 270,000.00 ₱ 270,000.00
Lopez Total
₱ 70,000.00 ₱ 210,000.00
₱ 60,000.00 ₱ 105,000.00
₱ (10,000.00) ₱ (45,000.00)
₱ 120,000.00 ₱ 270,000.00
c. loss of ₱ (315,000.00)
average capital:
Parale ₱ 200,000.00
Demafels ₱ 100,000.00
Lopez ₱ 400,000.00
salaries:
Parale ₱ 70,000.00
Demafele ₱ 70,000.00
Lopez ₱ 70,000.00
Journal entry
debit credit
Parale, drawing ₱ 180,000.00
Demafels, drawing ₱ 125,000.00
Lopez, drawing ₱ 10,000.00
income summary ₱ 315,000.00
₱ 315,000.00 ₱ 315,000.00
Lopez Total
₱ 70,000.00 ₱ 210,000.00
₱ 60,000.00 ₱ 105,000.00
₱ (140,000.00) ₱ (630,000.00)
₱ (10,000.00) ₱ (315,000.00)
d. PROFIT OF ₱ 350,000.00
average capital:
Parale ₱ 200,000.00
Demafels ₱ 100,000.00 ₱ 700,000.00
Lopez ₱ 400,000.00
salaries:
Parale ₱ 70,000.00
Demafele ₱ 70,000.00
Lopez ₱ 70,000.00
Journal entry
debit credit
income summary ₱ 350,000.00
Parale, drawing ₱ 110,150.00
Demafels, drawing ₱ 89,900.00
Lopez, drawing ₱ 149,950.00
₱ 350,000.00 ₱ 350,000.00
Lopez Total
₱ 70,000.00 ₱ 210,000.00
₱ 60,000.00 ₱ 105,000.00
₱ 19,950.00 ₱ 35,000.00
₱ 149,950.00 ₱ 350,000.00