A.

Basa Benito Beltran Bagnes Total

Salary 400,000.00 200,000.00 600,000.00
Interest 100,000.00 90,000.00 40,000.00 94,000.00 324,000.00
Bonus 60,000.00 40,000.00 100,000.00
Share of Partners 269,000.00 269,000.00 269,000.00 269,000.00 1,076,000.00
Total 829,000.00 599,000.00 309,000.00 363,000.00 2,100,000.00

B.
Basa Benito Beltran Bagnes Total
Salary 400,000.00 200,000.00 600,000.00
Interest 100,000.00 90,000.00 40,000.00 94,000.00 324,000.00
Share of Partners (431,000.00) (431,000.00) (431,000.00) (431,000.00) (1,724,000.00)
Total 69,000.00 (141,000.00) (391,000.00) (337,000.00) (800,000.00)

C.
Basa Benito Beltran Bagnes Total
Interest 100,000.00 90,000.00 40,000.00 94,000.00 324,000.00
Bonus 22,857.14 22,857.14 38,095.24
Salary 291,936.51 145,968.25 437,904.76
Total 414,793.65 258,825.40 40,000.00 94,000.00 800,000.00
1)
Balte Bala Total
Interest 40,000.00 24,000.00 64,000.00
Salary 120,000.00 80,000.00 200,000.00
Bonus 238,000.00 238,000.00
Share of Partners 430,000.00 258,000.00 688,000.00
Total 828,000.00 362,000.00 1,190,000.00

Balte, Capital 60,000.00

Bala, Capital 100,000.00
Balte, Drawing 60,000.00
Bala, Drawing 100,000.00

Income Summary 1,190,000.00

Balte, Capital 828,000.00
Bala, Capital 362,000.00

Sales 4,800,000.00
Cost of Goods Sold 2,100,000.00
Operating Expenses 1,000,000.00
Income Tax 510,000.00
Income Summary 1,190,000.00

Balte and Bala

Statement of Changes in Partner's Equity
For the Year Ended December 31, 2014
Balte Bala Total
Original Investments 500,000.00 300,000.00 800,000.00
Add: Profit 828,000.00 362,000.00 1,190,000.00
Total 1,328,000.00 662,000.00 1,990,000.00
Less: Temporary Withdrawals 60,000.00 100,000.00 160,000.00
Partner's Equity, Dec.31 1,268,000.00 562,000.00 1,830,000.00
 Be on Top Partnership
10-Column Worksheet
For the Year Ended December 31, 2014

Account Name Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr
Cash 582,750.00 582,750.00 582,750.00
Accounts Receivable 186,000.00 186,000.00 186,000.00
Allowance for doubtful accounts 9,300.00 9,300.00 9,300.00
Merchandise Inventory 1,406,000.00 1,406,000.00
Purchases 4,920,000.00 4,920,000.00 4,920,000.00
Purchase Discounts 138,000.00 - 138,000.00 138,000.00
Purchase Ret. & Allow. 99,000.00 - 99,000.00 99,000.00
Store Supplies 36,000.00 19,500.00 16,500.00 16,500.00
Notes Receivable 120,000.00 120,000.00 120,000.00
Store Furniture 222,000.00 222,000.00 222,000.00
Accumulated Depreciation 21,300.00 - 21,300.00 21,300.00
Accounts Payable 756,000.00 - 756,000.00 756,000.00
Notes Payable 360,000.00 - 360,000.00 360,000.00
Bathan, Capital 600,000.00 - 600,000.00 600,000.00
Buenas, Capital 489,000.00 - 489,000.00 489,000.00
Bathan, Drawing 144,000.00 144,000.00 - 144,000.00
Buenas, Drawing 54,000.00 54,000.00 - 54,000.00
Sales 5,100,000.00 - 5,100,000.00 5,100,000.00
Interest Income 21,000.00 6,000.00 - 27,000.00 27,000.00
Taxes 36,000.00 10,500.00 10,000.00 36,500.00 36,500.00
Sales Salaries 480,000.00 480,000.00 480,000.00
Interest Expense 26,250.00 3,750.00 30,000.00 30,000.00
General Expenses-Others 756,000.00 756,000.00 756,000.00
Advertising Expense 9,500.00 9,500.00 9,500.00
Advertising Payable 9,500.00 - 9,500.00 9,500.00
Prepaid Tax 10,000.00 10,000.00 - 10,000.00
Tax Payable 10,500.00 - 10,500.00 10,500.00
Supplies Expense 19,500.00 19,500.00 - 19,500.00
Depreciation Expense 21,300.00 21,300.00 21,300.00
Interest Payable 3,750.00 - 3,750.00 3,750.00
Interest Receivable 6,000.00 6,000.00 - 6,000.00
Bad debts Expense 9,300.00 9,300.00 - 9,300.00
Income Tax 146,370.00 146,370.00 - 146,370.00
Income Tax Payable 146,370.00 - 146,370.00 146,370.00
Total 6,428,470.00 6,770,000.00 2,747,250.00 2,405,720.00
NET PROFIT 341,530.00 341,530.00
Total 7,563,000.00 7,563,000.00 236,220.00 236,220.00 7,000,970.00 7,769,720.00 6,770,000.00 6,770,000.00 2,747,250.00 2,747,250.00