Name: Jomarie Carl D.

Macam
Year & Course: BSA 202
Date Debit Credit
Jan 2,2017 Cash P 100,000
Inventory 10,000
Equipment 240,000
Mortgage payable P50,000
A. Capital [( 100k x 60%) 140,000
+(180k -50k)]
B. Capital [(100k x 40%) + 10k 110,000
+60k)]
To record the contribution of the
partners
1.

2.
Date Debit Credit
Jan 2, 2018 Cash
B, Capital P175,000
C, Capital P78,850
A, Capital 48,075
To record admission 48,075

3.
Cash Other Liabilitie A Loan C 30% A 50% B 20%
Assets s

P 160,000 P 700,000 P110,000 P50,000 P200,000 P400,000 P200,000

P210,000 (180,000) P9,000 P15,000 P6,000
P370,000 P520,000 P110,000 P50,000 P209,000 P415,000 P206,000
(110,000) (110,000)
P260,000 P520,000 P0 P50,000 P209,000 P415,000 P206,000
(260,000) (50,000) P53,000 P55,000 P102,000
P0 P520,000 P0 P53,000 P55,000 P102,000

Schedule of Sale Payments as Jan.31, 2020

C 30% A 50% B 20% Total
Capital P209,000 P415,000 P206,000 P830,000
Loans (50,000) (50,000)
Total Interest P209,000 P365,000 P206,000 P780,000
Unrealized (156,000) (260,000) (104,000) (520,000)
OA(520,000)
Balance P53,000 P,105,000 P102,000 P260,000