Wong Samad Ramasamy Wong Samad

General Journal Revaluation

Date Particulars Debit Credit Date Particular Amount Date Particular Amount Date Particulars
2016 RM RM 2016 RM 2016 RM 2016
Jan. 1 Inventory 2,400 Jan. 1 Allowance for Doubtful Debts 1,780 Jan. 1 Shophouse 16,000 Jan. 1 Allowance for Doubtful Debts
Accounts Receivable 4,800 Capital (Gain on Revaluation) Balance c/d
Bank 13,040 - Wong (1/2) 7,110
Capital - Ramasamy 20,000 - Samad (1/2) 7,110
Allowance for Doubtful Debts 240
(Being Assets and Liabilities brought 20,240 20,240 16,000 16,000
in by Ramasamy as agreed)

1 Goodwill 14,000 Goodwill

Capital - Wong 7,000 2016 RM 2016 RM
Capital - Samad 7,000 Jan. 1 Capital Jan. 1 Balance c/d 14,000
(Being goodwill created on admission) - Wong (1/2) 7,000
- Samad (1/2) 7,000
1 Shophouse 16,000
Allowance for Doubtful Debts 1,780 14,000 14,000
Revaluation 14,220
(Being gain on revaluation) Jan. 2 Balance b/d 14,000

1 Revaluation (Gain on Revaluation) 14,220

Capital Wong 7,110 N1:
Capital Samad 7,110 Bank
(Being gain on revaluation transfer to 2016 RM 2016 RM
partners capital) Jan. 1 Capital Ramasamy 13,040 Jan. 1 Balance b/d 13,076
Capital Samad 12,000 Balance c/d 11,964
1 Bank 12,000
Capital Samad 12,000 25,040 25,040
(Being cash brought in by new partner)
Jan. 2 Balance b/d 11,964
 Wong Samad Ramasamy Wong Samad Ramasamy
Partners Capital Statement of Financial Positon as at 1 January 2016
Wong Samad Ramasamy Date Particulars Wong Samad Ramasamy Particulars Amount Amount Amount
RM RM RM 2016 RM RM RM RM RM RM
240 Jan. 1 Balance b/d 50,000 38,000 Non-Current Assets
64,110 64,110 20,000 Inventory 2,400 Shophouse 40,000
Accounts Receivable 4,800 Motor Vehicles 20,780
Bank - brought in 13,040 Shop Equipment 3,664
Goodwill 7,000 7,000 64,444
Revaluation (Gain on Revaluat 7,110 7,110 Intangible Assets
Bank (brought in) 12,000 Goodwill 14,000

Current Assets
64,110 64,110 20,240 64,110 64,110 20,240 Inventory RM( 41,156+ 2,400) 43,556
Accounts Receivable RM( 35,600 + 4,800) 40,400
Jan. 2 Balance b/d 64,110 64,110 20,000 Less: Allowance for doubtful debts RM(1,780 + 240) 2,020
38,380
Bank 11,964
93,900
Total Assets 172,344

Owners' Equities
Capital
- Wong 64,110
- Samad 64,110
- Ramasamy 20,000
148,220

Current Liabilities
Accounts Payable 24,124

Total Equity and Liabilities 172,344

 Raju Seng Raju Seng A. Samad
Revaluation Partners Capital
Date Particular Amount Date Particular Amount Date Particulars Raju Seng A. Samad Date Particulars Raju
2016 RM 2016 RM 2016 RM RM RM 2016 RM
Feb. 1 Plant and Machinery 348 Feb. 1 Premis 1,500 Feb. 1 Balance c/d 13,000 13,000 6,500 Feb. 1 Balance b/d 12,000
Inventory 304 Revaluation (Gain on Revaluat 400
Allowance for Doubtful Debts 48 Vehicles
Capital (Gain on Revaluation) Furniture
- Raju (1/2) 400 Bank (Premium) 600
- Seng (1/2) 400 Bank (brought in)

1,500 1,500
13,000 13,000 6,500 13,000

Feb. 2 Balance b/d 13,000

N1:
Bank
2016 RM 2016 RM
Feb. 1 Capital Raju (Premium) 600 Feb. 1 Balance b/d 125
Capital Seng (Premium) 600 Loan from Raju 1,750
Capital A. Samad 1,050 Balance c/d 375
2,250 2,250

Feb.2 Balance b/d 375

 Perkongsian Rasmad
Statement of Financial Positon as at 1 February 2016
Seng A. Samad Particulars Amount Amount Amount
RM RM RM RM RM
12,000 Non-Current Assets
400 Premises 20,250
4,750 Furniture and Fittings RM(576 + 700) 1,276
700 Plant and Machinery 3,132
600 Vehicles 4,750
1,050 29,408

Current Assets
13,000 6,500 Inventory 9,885
Accounts Receivable 1,200
13,000 6,500 Less: Allowance for doubtful debts 48
1,152
Bank (N1) 375
11,412
Total Assets 40,820

Owners' Equities
Capital
- Raju 13,000
- Seng 13,000
- A. Samad 6,500
32,500

Current Liabilities
Accounts Payable 8,320

Total Equity and Liabilities 40,820

 Able Bell Able Bell Clement
Revaluation Partners Capital
Date Particular Amount Date Particular Amount Date Particulars Able Bell Clement Date Particulars Able Bell
Year 7 RM Year 7 RM Year 7 RM RM RM Year 7 RM RM
Jul. 1 Inventory 3,000 Jul.1 Land and Building 14,000 Jul. 1 Balance c/d 71,400 47,600 17,000 Jul. 1 Balance b/d 54,000 36,000
Capital (Gain on Revaluation) Goodwill 10,800 7,200
- Able (3/5) 6,600 Revaluation (Gain on Revaluation) 6,600 4,400
- Bell (2/5) 4,400 Bank (brought in)

14,000 14,000 71,400 47,600 17,000 71,400 47,600

Jul. 2 Balance b/d 71,400 47,600

N1:
Bank
Year 7 RM Year 7 RM
Jul. 1 Balance b/d 2,000 Jul. 1 Balance c/d 19,000
Capital Clement 17,000

19,000 19,000

Jul. 2 Balance b/d 19,000

 Able Bell Clement
Statement of Financial Positon as at 1 July Year 7
Clement Particulars Amount Amount Amount
RM RM RM RM
Non-Current Assets
Land and Building 54,000
Furniture and Equipment 18,000
17,000 72,000
Intangible Asset
17,000 Goodwill 18,000

17,000 Current Assets

Inventory 24,000
Accounts Receivable 15,000
Bank (N1) 19,000
58,000
Total Assets 148,000

Owners' Equities
Capital
- Able 71,400
- Bell 47,600
- Clement 17,000
136,000

Current Liabilities
Accounts Payable 12,000

Total Equity and Liabilities 148,000

 Muthu Sani Muthu Sani Lee
Revaluation Partners Capital
Date Particular Amount Date Particular Amount Date Particulars Raju Seng A. Samad Date Particulars Raju Seng
2015 RM 2015 RM 2015 RM RM RM 2015 RM RM
Jul. 1 Bad Debts 500 Jul.1 Vehicles 2,100 Jul. 1 Bank (withdrawn) 4,694 Jul. 1 Balance b/d 9,600 6,900
Allowance for Doubtful Debts 700 Inventory 500 Balance c/d 7,666 11,499 11,499 Cash
[RM(7,500 - 500) x 10%] Furniture
Capital (Gain on Revaluation) Goodwill 2,200 3,300
- Muthu (2/5) 560 Revaluation (Gain on Revaluation) 560 840
- Sani (3/5) 840 Bank (brought in) 459

2,600 2,600
12,360 11,499 11,499 12,360 11,499

Jul. 2 Balance b/d 7,666 11,499

N1:
Bank Profit sharing ratio
2015 RM 2015 RM 2: 3:
Jul. 1 Balance b/d 2,300 Jul. 1 Capital Muthu 4,694
Capital Lee 10,000 Balance c/d 8,065
Capital Sani 459
12,759 12,759

Jul. 2 Balance b/d 8,065

 Raju Seng A.Samad
Statement of Financial Positon as at 1 July 2015
A. Samad Particulars Amount Amount Amount
RM RM RM RM
Non-Current Assets
10,000 Vehicles 11,600
1,499 Furniture 1,499
13,099
Intangible Asset
Goodwill 5,500

Current Assets
11,499 Inventory 2,500
Accounts Receivable RM(7,500 - 500) 7,000
11,499 Less: Allowance for doubtful debts 700
6,300
haring ratio Bank (N1) 8,065
3 16,865
Total Assets 35,464

Owners' Equities
Capital
- Muthu 7,666
- Sani 11,499
- Lee 11,499
30,664

Current Liabilities
Accounts Payable 4,800

Total Equity and Liabilities 35,464

 Chong, Varna Chong, Varna Ramli
Revaluation Partners Capital
Date Particular Amount Date Particular Amount Date Particulars Chong Varna Ramli Date Particulars Chong Varna
2016 RM 2016 RM 2016 RM RM RM 2016 RM RM
Jan. 1 Accounts Receivable 1,780 Jan. 1 Premises 6,000 Jan. 1 Allowance for Doubtful Debts 290 Jan. 1 Balance b/d 50,000 40,000
Capital: Gain on Revaluation Balance c/d 53,610 53,610 30,000 Inventory
- Chong 2,110 Fixtures
- Varna 2,110 Accounts Receivable
Bank - brought in
6,000 6,000 Goodwill 1,500 1,500
Revaluation - Gain on Revaluat 2,110 2,110
Bank - brought in 10,000
Goodwill
Date Particular Amount Date Particular Amount 53,610 53,610 30,290 53,610 53,610
2016 RM 2016 RM
Jan. 1 Capital Jan. 1 Balance c/d 3,000 Jan. 2 Balance b/d 53,610 53,610
- Chong 1,500
- Varna 1,500

3,000 3,000

Jan. 2 Balance b/d 3,000

W1:
Bank
Date Particular Amount Date Particular Amount
2016 RM 2016 RM
Jan. 1 Capital - Ramli 16,690 Jan. 1 Balance b/d 2,500
Capital - Varna 10,000 Balance c/d 24,190

26,690 26,690

Jan. 2 Balance b/d 24,190

 Chong, Varna, Ramli
Statement of Financial Positon as at 1 January 2016
Ramli Particulars Amount Amount Amount
RM RM RM RM
Non-Current Assets
4,800 Premises 54,000
3,000 Vehicles 22,000
5,800 Fixtures RM(5,650 + 3,000) 8,650
16,690 84,650
Intangible Assets
Goodwill 3,000

Current Assets
30,290 Inventory RM(22,184 + 4,800) 26,984
Accounts Receivable RM(35,600 - 1,780 + 5,800) 39,620
30,000 Less: Allowance for doubtful debts 290
39,330
Bank 24,190
90,504
Total Assets 178,154

Owners' Equities
Capital
- Chong 53,610
- Varna 53,610
- Ramli 30,000
137,220

Current Liabilities
Accoutns Payable 40,934

Total Equity and Liabilities 178,154

 Albert Bernard Charles
Revaluation
2015 RM 2015
Mar 31 Equipment 500 Mar 31 Freehold Property
Capital: Gain on Revaluation
- Albert (2/5) 1,800
- Bernard (2/5) 1,800
- Charles (1/5) 900

5,000

Goodwill
2015 RM 2015
Mar 31 Capital Mar 31 Capital
- Albert 2,400 - Albert
- Bernard 2,400 - Charles
- Charles 1,200
6,000

W1:
Bank
2015 RM 2015
Mar 31 Balance b/d 1,200 Mar 31 Capital - Bernard
Capital Balance c/d
- Albert 3,000
- Charles 3,000

7,200

Apr. 1 Balance b/d 2,200

 Albert Bernard Charles
Partners Capital
RM Date Particulars Albert Bernard Charles
5,000 2015 RM RM RM
Mar 31 Goodwill - written off 3,000 3,000
Bank 5,000
Loan from Bernard 6,400
Balance c/d 13,000 - 6,600

5,000

RM 16,000 11,400 9,600

3,000
3,000

6,000

RM
5,000
2,200

7,200
lbert Bernard Charles
Partners Capital
Date Particulars Albert Bernard Charles
2015 RM RM RM
Mar 31 Balance b/d 8,000 6,000 4,000
Current Accounts 800 1,200 500
Goodwill 2,400 2,400 1,200
Revaluation - Gain on Revaluat 1,800 1,800 900
Bank - brought in 3,000 3,000

16,000 11,400 9,600

Apr. 1 Balance b/d 13,000 - 6,600

 Albert Bernard Charles
Statement of Financial Positon as at 31 March 2015
Particulars Amount Amount
RM RM
Non-Current Assets
Premises 17,000
Equipment 5,300
22,300

Current Assets
Inventory 2,300
Accounts Receivable 1,900
Bank (W1) 2,200
6,400
Total Assets 28,700

Owners' Equities
Capital
- Albert 13,000
- Charles 6,600
19,600
Non-Current Liabilities
Loan from Bernard 6,400

Current Liabilities
Accoutns Payable 2,700
Total Liabilities 9,100
Total Equity and Liabilities 28,700
 Aru Busu Chong
Revaluation
2015 RM 2015
Jun 30 Equipment 1,000 Jun 30 Premises
Capital: Gain on Revaluation
- Aru (2/5) 3,600
- Busu (2/5) 3,600
- Chong (1/5) 1,800

10,000

Goodwill
2015 RM 2015
Jun 30 Capital Jun 30 Capital
- Aru 4,800 - Aru
- Busu 4,800 - Chong
- Chong 2,400
12,000

W1:
Bank
2015 RM 2015
Jun 30 Balance b/d 2,400 Jun 30 Capital - Busu
Capital Balance c/d
- Aru 6,000
- Chong 6,000

14,400

Jul. 1 Balance b/d 4,400

 Aru Busu Chong
Partners Capital
RM Date Particulars Aru Busu Chong
10,000 2015 RM RM RM
Jun 30 Goodwill - written off （1：1） 6,000 6,000
Bank 10,000
Loan from Busu 12,800
Balance c/d 26,000 - 13,200

10,000

RM 32,000 22,800 19,200

6,000
6,000

12,000

RM
10,000
4,400

14,400
Aru Busu Chong
Partners Capital
Date Particulars Aru Busu Chong
2015 RM RM RM
Jun 30 Balance b/d 16,000 12,000 8,000
Current Accounts 1,600 2,400 1,000
Goodwill （2：2：1） 4,800 4,800 2,400
Revaluation - Gain on Revaluation 3,600 3,600 1,800
Bank - brought in 6,000 6,000

32,000 22,800 19,200

Jul. 1 Balance b/d 26,000 - 13,200

 Aru Chong
Statement of Financial Positon as at 30 Jun 2016
Particulars Amount Amount
RM RM
Non-Current Assets
Premises 34,000
Equipment 10,600
44,600

Current Assets
Inventory 4,600
Accounts Receivable 3,800
Bank (W1) 4,400
12,800
Total Assets 57,400

Owners' EEquities
Capital
- Aru 26,000
- Chong 13,200
39,200
Non-Current Liabilities
Loan from Busu 12,800

Current Liabilities
Accoutns Payable 5,400
Total Liabilities 18,200
Total Equity and Liabilities 57,400
 Dan Ho Chan
Revaluation
Year 3 RM Year 3
Jul. 1 Motor Vehicles 5,000 Jul. 1 Premises
Fixtures and Fittings 2,000
Capital: Gain on Revaluation
- Dan (2/5) 1,200
- Ho (2/5) 1,200
- Chan (1/5) 600

10,000

Goodwill
Year 3 RM Year 3
Jul. 1 Capital Jul. 1 Capital
- Dan (2/5) 3,200 - Dan
- Ho (2/5) 3,200 - Chan
- Chan (1/5) 1,600
8,000

W1:
Bank
Year 3 RM Year 3
Jul. 1 Capital Jul. 1 Balance b/d
- Dan 6,000 Capital Ho
- Chan 6,000 Balance b/d

12,000

Jul. 1 Balance b/d 2,720

 Dan Ho Chan
Partners Capital
RM Date Particulars Dan Ho Chan
10,000 Year 3 RM RM RM
Jul. 1 Goodwill - written off 4,000 4,000
Bank 6,880
Loan from Ho 25,000
Balance c/d 76,960 - 19,460

10,000

80,960 31,880 23,460

RM

4,000
4,000

8,000

RM
2,400
6,880
2,720

12,000
 Dan Ho Chan
Partners Capital
Date Particulars Dan Ho Chan
Year 3 RM RM RM
Jul. 1 Balance b/d 70,000 27,000 15,000
Current Accounts 560 480 260
Goodwill 3,200 3,200 1,600
Revaluation (Gain on Revaluation) 1,200 1,200 600
Bank (brought in) 6,000 6,000

80,960 31,880 23,460

Jul. 2 Balance b/d 76,960 - 19,460

 Dan Chan
Statement of Financial Positon as at 1 July Year 3
Particulars Amount Amount
RM RM
Non-Current Assets
Freehold Premises 80,000
Motor Vehicles 20,000
Fixtures and Fittings 10,000
110,000

Current Assets
Inventory 5,800
Accounts Receivable 7,200
Bank (W1) 2,720
15,720
Total Assets 125,720

Owners' Equities
Capital
- Dan 76,960
- Chan 19,460
96,420
Non-Current Liabilities
Loan from Ho 25,000

Current Liabilities
Accoutns Payable 4,300
Total Liabilities 29,300
Total Equity and Liabilities 125,720
*1(a)
Bright and Dark
Revaluation
Date Particulars Amount Date Particulars Amount
2010 RM 2010 RM
Apr. 1 Debtors 3,400 Apr. 1 Land and Building 20,000
Stock 500
Capiatal: Gain on Revaluation
- Bright (⅔) 9,660
- Dark (⅓) 6,440

20,000 20,000

1(b)
Bright, Dark, Shiny
Goodwill
Date Particulars Amount Date Particulars Amount
2010 RM 2011 RM
Apr. 1 Capital Jan. 1 Capital
- Bright 22,800 - Dark (4/5) 43,200
- Dark 15,200 - Shiny (1/5) 10,800
- Shiny 16,000

54,000 54,000
1(c)
Bright, Dark, Shiny
Partners Capital
Date Particulars Bright Dark Shiny Date
2010 RM RM RM 2010
Apr. 1 Current Account 5,480 Apr. 1
Motor Vehicles 6,000
Bank 70,980
Loan from Bright 100,000
Allowance for Doubtful Debts 1,250
Goodwill - Written off (4 : 1) 43,200 10,800
Balance c/d - 108,940 102,950

182,460 152,140 115,000

Apr. 2

(N1) Average Profit

RM(20,300 + 17,800 + 18,900)
=
3
= RM19,000

Goodwill = 2 years purchase x Average Profit

= 2 x RM19,000
= RM38,000
Dark, Shiny
s Capital
Particulars Bright Dark Shiny
RM RM RM
Balance b/d 150,000 120,000
Current Account 10,500
Goodwill (3:2) (N1) 22,800 15,200
Revaluation: Gain on Revaluation 9,660 6,440
Motor Vehicles 24,000
Bank 50,000
Goodwill 16,000
Accounts Receivable 25,000

182,460 152,140 115,000

Balance b/d - 108,940 102,950

 Dark Shiny
Statement of Financila Position as at 1 April 2010
Particulars Amount Amount Amount
Non-current Assets RM RM RM
Land and Building 160,000
Motor Vehicles RM(36,000 - 6,000 + 24,000) 54,000
Fixtures and Fittings 45,000
259,000
Current Assets
Inventory RM(27,520 - 500) 27,020
Accounts Receivable RM(32,000 – 3,400 + 25,000) 53,600
Less: Allowance for Doubtful Debts RM(1,400 + 1,250) 2,650
50,950
77,970

Total Assets 336,970

Owners’ Equities
Capital
- Dark 108,940
- Shiny 102,950
211,890
Non-current Liabilities
Loan from Bright 100,000

Current Liabilities
Accounts Payable 21,300
Bank Overdraft RM(17,200 + 50,000 - 70,980) 3,780
25,080
Total Liabilities 125,080
Total Equities and Liabilities 336,970
*1(a)
Bread and Butter
Revaluation
Date Particulars Amount Date Particulars Amount
2010 RM 2010 RM
Dec. 31 Plant and Machinery 24,000 Dec. 31 Building 20,000
Provision for Depreciation Capital: Loss on Revaluation
of Motor Vehicles 3,000 - Bread (⅔) 7,200
Inventory 3,600 - Butter (⅓) 3,600
Accounts Receivable 200

30,800 30,800

1(b)
Bread, Butter, Jam
Goodwill
Date Particulars Amount Date Particulars Amount
2010 RM 2011 RM
Dec. 31 Capital Jan. 1 Capital
- Bread 6,000 - Bread 9,500
- Butter 3,000 - Jam 9,500
2011
Jan. 1 Capital
- Jam 10,000
19,000 19,000
1(c)
Bread, Butter, Jam
Partners Capital
Date Particulars Bread Butter Jam Date
2010 RM RM RM 2010
Dec.31 Current Account 2,000 Dec.31
Motor Vehicles 10,000
Revaluation: Loss On Revaluation 7,200 3,600
Bank 8,500 2011
Loan from Butter 78,900 Jan.1
2011
Jan.1 Provision for bad Debts 1,490
Unearned Revenue 1,800
Bill Payable 5,000
Goodwill (written off) 9,500 9,500
Balance c/d 131,300 - 102,310

148,000 103,000 120,100

2011
Jan.2
Jam Bread an
tal Statement of Financial Posi
Particulars Bread Butter Jam
RM RM RM
Balance b/d 130,000 100,000
Current Account 12,000
Goodwill (2:1) 6,000 3,000

Goodwill 10,000
Office Equipment 58,000
Accounts Receivable 29,800
Inventory 22,300

148,000 103,000 120,100

Balance b/d 131,300 - 102,310

 Bread and Jam
Statement of Financial Position as at 1 January 2011
Particulars Amount Amount Amount
Non-current Assets RM RM RM
Building 120,000
Motor Vehicles 30,000
Less: Accumulated Depreciation 3,000
27,000
Plant and Machinery 56,000
Office Equipment 58,000
261,000
Current Assets
Inventory RM(14,400 + 22,300) 36,700
Accounts Receivable RM(9,000 – 200 + 29,800) 38,600
Less: Allowance for Doubtful Debts 1,490
37,110
Cash in hand 3,000
76,810
Total Assets 337,810

Owners’ Equities
Capital
- Bread 131,300
- Jam 102,310
233,610
Non-current Liabilities
Loan from Butter 78,900

Current Liabilities
Accounts Payable 3,700
Bank Overdraft RM(6,300 + 8,500) 14,800
Unearned Revenue 1,800
Bill Payable 5,000
25,300
Total Liabilities 104,200
Total Equities and Liabilities 337,810
 Alex, Bob, Coby Alex, Bob, Coby, Dom
Revaluation Partners Capital
Date Particular Amount Date Particular Amount Date Particulars Alex Bob Coby Dom Date Particulars Alex
2013 RM 2013 RM 2013 RM RM RM RM 2013 RM
Jan. 1 Accounts Receivable 3,700 Jan. 1 Building 17,000 Jan. 1 Motor Vehicles 12,000 Jan. 1 Balance b/d 40,000
Profit on Revaluation Inventory 5,600 Loan from Alex 21,340 Goodwill 10,000
- Alex 3,780 Bank 20,440 Revaluation: Gain on Revaluation 3,780
- Bob 7,560 Accounts Payable 4,100 Bank
- Coby 7,560 Goodwill (written off) 30,000 30,000 10,000 Motor Vehicles
Balance c/d - 57,560 57,560 44,400 Accounts Receivable
Goodwill
22,600 22,600

Goodwill 53,780 87,560 87,560 58,500 53,780

Date Particular Amount Date Particular Amount
2013 RM 2013 RM Jan. 2 Balance b/d -
Jan. 1 Capital Alex 10,000 Jan. 1 Capital Bob 30,000
Capital Bob 20,000 Capital Coby 30,000
Capital Coby 20,000 Capital Dom 10,000
Capital Dom 20,000

70,000 70,000

W1:
Bank
Date Particular Amount Date Particular Amount
2013 RM 2013 RM
Jan. 1 Capital Dom 10,000 Jan. 1 Balance b/d 19,000
Balance c/d 41,440 Loan form Alex 12,000
Capital Alex 20,440

51,440 51,440

Jan. 2 Balance b/d 41,440

 Alex, Bob and Dom
Statement of Financial Position As At 1 January 2013
Bob Coby Dom Particulars Amount Amount Amount
RM RM RM RM RM RM
60,000 60,000 Non-current Assets
20,000 20,000 Building 102,000
7,560 7,560 Motor vehicles 78,000
10,000 180,000
23,000
5,500 Current Assets
20,000 Inventory 30,200
Accounts Receivable 58,500
88,700

87,560 87,560 58,500 Total Assets 268,700

57,560 57,560 44,400 Owners' Equities

Capital - Bob 57,560
- Coby 57,560
- Dom 44,400
159,520

Non-current Liabilities
Loan from Alex 21,340

Current Liabilities
Accounts Payable 46,400
Bank overdraft (W1) 41,440
87,840
Total Liabilities 109,180
268,700
 Tan, Chen, Chin Tan, Chen, Chin, Zhan
Revaluation Partners Capital Account
Date Particular Amount Date Particular Amount Date Particulars Tan Chen Chin Zhan Date Particulars Tan
2011 RM 2011 RM 2013 RM RM RM RM 2013 RM
Jul. 1 Equipment 2,000 Jul. 1 Premises 8,000 Jan. 1 Current Account 2,200 Jan. 1 Balance b/d 40,000
Allowance for doubtful debts 540 Inventory 1,400 Motor Vehicles 400 Current Account 8,200
Capital: Profit on Revaluation Loan from Chin 15,000 Goodwill 12,000
- Tan 2,744 Bank 9,772 Revaluation: Gain on Revaluation 2,744
- Chen 2,744 Goodwill (written off) 15,000 10,000 5,000 Bank
- Chin 1,372 Balance c/d 47,944 49,244 30,000 Motor Vehicles

9,400 9,400

Goodwill 62,944 59,244 27,372 35,000 62,944

Date Particular Amount Date Particular Amount
2011 RM 2011 RM Jan. 2 Balance b/d 47,944
Jul. 1 Capital Tan 12,000 Jul. 1 Capital Tan 15,000
Capital Chen 12,000 Capital Chen 10,000
Capital Chin 6,000 Capital Zhan 5,000

30,000 30,000

W1:
Bank
Date Particular Amount Date Particular Amount
2011 RM 2011 RM
Jul. 1 Capital Zhan 25,000 Jul. 1 Balance b/d 35,800
Balance c/d 16,972 Capital Chin 6,172

41,972 41,972

Aug. 1 Balance b/d 16,972

 Tan, Chen and Zhan
Statement of Financial Position As at 1 July 2011
Chen Chin Zhan Particulars Amount Amount Amount
RM RM RM RM RM RM
40,000 20,000 Non-current Assets
4,500 Premises 63,000
12,000 6,000 Equipment 10,000
2,744 1,372 Motor vehicles 45,000
25,000 118,000
10,000
Current Assets
Inventory 18,000
Accounts Receivable 54,000
Less: Allowance for doubtful debts 540
59,244 27,372 35,000 53,460
71,460
49,244 30,000 Total Assets 189,460

Owners' Equities
Capital - Tan 47,944
- Chen 49,244
- Zhan 30,000
127,188

Non-current Liabilities
Loan from Chin 15,000

Current Liabilities
Accounts Payable 30,300
Bank overdraft (W1) 16,972
47,272
Total Liabilities 62,272
Total Equities and Liabilities 189,460