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    AST Chapter 2 MCP

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    Elle
    This document contains information about the capital contributions, asset revaluations, profit/loss ratios, and distributions for several partners in different partnerships. It shows the capital balances and distributions for partners Rob and Bob after settling up their partnership. It also shows details of admitting a new partner, Ailyn, to the partnership of Jay and Sheryl, including revaluing assets and transferring capital based on their profit/loss ratios.

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    AST Chapter 2 MCP

    Uploaded by

    Elle
    101 views4 pages
    This document contains information about the capital contributions, asset revaluations, profit/loss ratios, and distributions for several partners in different partnerships. It shows the capital balances and distributions for partners Rob and Bob after settling up their partnership. It also shows details of admitting a new partner, Ailyn, to the partnership of Jay and Sheryl, including revaluing assets and transferring capital based on their profit/loss ratios.

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    This document contains information about the capital contributions, asset revaluations, profit/loss ratios, and distributions for several partners in different partnerships. It shows the capital balances and distributions for partners Rob and Bob after settling up their partnership. It also shows details of admitting a new partner, Ailyn, to the partnership of Jay and Sheryl, including revaluing assets and transferring capital based on their profit/loss ratios.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    101 views4 pages

    AST Chapter 2 MCP

    Uploaded by

    Elle
    This document contains information about the capital contributions, asset revaluations, profit/loss ratios, and distributions for several partners in different partnerships. It shows the capital balances and distributions for partners Rob and Bob after settling up their partnership. It also shows details of admitting a new partner, Ailyn, to the partnership of Jay and Sheryl, including revaluing assets and transferring capital based on their profit/loss ratios.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
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    17.

    ) d
    CC AC
    Siony 200,000.00 214,062.50
    Tony 100,000.00 104,687.50
    Romy 125,000.00 106,250.00
    Total 425,000.00 425,000.00

    18.) d
    Old P/L
    Barbie 0.50 80%*50%
    Kim 0.30 80%*30%
    Kathryn 0.20 80%*20%
    Marian

    19.) e
    Unadjusted net income 25,000.00
    Accrued expenses 1,200.00
    Inventory - 3,100.00
    Purchases - 2,000.00
    Unearned income - 1,500.00
    Supplies 900.00
    Adjusted net income 20,500.00
    Multiply: Barbie P/L 0.40
    Barbie, share in profit 8,200.00

    14.) d
    Rob Bob
    Capital 84,000.00 78,000.00
    Loan from 18,000.00
    Asset revaluation (72,000) 21,600.00 14,400.00
    Total 123,600.00 92,400.00

    Settlement 150,000.00
    Rob, adjusted capital - 123,600.00
    Bonus 26,400.00

    Bob, Capital 92,400.00


    Share in bonus (26.4K*2/7) - 7,542.86
    Bon, capital after Rob 84,857.14

    1.) b
    Amount paid 150,000.00
    Divide: Interest purchased 1/3
    Agreed capital 450,000.00
    Less: Contributed capital 360,000.00
    Asset revaluation 90,000.00
    Jay Sheryl
    Capital balance before revaluation 180,000.00 180,000.00
    Add: Share in revaluation 54,000.00 36,000.00
    Capital balance after revaluation 234,000.00 216,000.00
    Multiply: Interest purchased 1/3 1/3
    Capital transferred to Ailyn 78,000.00 72,000.00

    Capital balance after revaluation 234,000.00 216,000.00


    Less: Capital balance transferred 78,000.00 72,000.00
    Capital after admission 156,000.00 144,000.00

    15.)

    P/L Capital
    Alveo 1/2 139,000.00
    Bueno 1/3 208,800.00
    Creno 1/6 96,000.00
    Deo

    Old P/L New P/L


    Alveo 1/2 0.50
    Bueno 1/3 0.23
    Creno 1/6 0.12
    Deo 0.20

    Bueno Creno
    Old P/L 0.33 0.17
    Multiply
    New P/L 0.20 0.10
    Multiply: Capital 88,760.00 44,380.00
    Bonus
    14,062.50
    4,687.50
    - 18,750.00

    New P/L
    0.40
    0.24
    0.16
    0.20

    Lob Total
    16,000.00

    36,000.00
    52,000.00
    Total
    360,000.00
    90,000.00
    450,000.00

    150,000.00

    P/L Capital P/L Capital

    - 1/5
    - 1/5
    1/5

    Deo

    0.20
    88,760.00

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