Professional Documents
Culture Documents
DR CR
Santino, Capital 100,000
Macario, Capital 60,000
Policarpio, Capital 40,000
100,000 x 60%=60,000
100,000 x 40%=40,000
Exercise 5-5
1 Macopa Sineguelas Ashitaba Total
Interest
5% x 300,000 15,000
5% x 450,000 22,500
5% x 200,000 10,000 47,500
Salaries 6,000 6,000 12,000
Bonus 7,620 7,620
4%(250,000-47,500-12,000)
Balance P182,880
4:4:2 73,152 73,152 36,576 182,880
2. a
Macopa, Capital 300,000
Profit share 95,772
Adjusted Capital 395,772
Less Cash Settlement 375,772
(395,772 -20,000)
Bonus to Remaining Partners 20,000
Entry
Macopa, Capital 395,772
Cash 375,772
Sineguelas, Capital 13,333
Ashitaba, Capital 6,667
2. b
Adjusted Macopa, Capital 395,772
+AR share 10,000
Cash settlement 415,772
Total +AR 10,000/4/10 25,000
Macopa share 4/10 10,000
Sineguelas share 4/10 10,000
Ashitaba share 2/10 5,000
Entry: DR CR
Macopa, Capital 395,772
Other Assets 25,000
Cash 415,772
Sineguelas, Capital 10,000
Ashitaba, Capital 5,000
2. c
Macopa, Capital 395,772
Cash 395,772
Exercise 5-6
1 DR CR
Kaimito, Capital 1,500,000
Sampaloc, Capital 450,000
Kamatchili, Capital 1,050,000
1,500,000 x 30% = 450,000
1,500,000 x 70% = 1,050,000
Exercise 5-7
1
Biko, Capital 207,000 Capital P&L Total -AR
Less -AR share 27,000 Nilupak 324,300 3243/6900 x 90,000
Biko 207,000 2070/6900 x 90,000
Cash settlement 180,000 Maja 158,700 1577/6900 x 90,000
2
Biko, Capital 180,000
Cash 180,000
-AR Share
=42,300
=27,000
=20,700
90,000