Partnership

Friday, 5 April 2024 8:35 am

CH1

- At least 2 owners
- Drawing accounts ay cinoclose sa capital accounts
- Nakadepende sa expertise
. X Y Total
Cash 200 000 200 000
AR 60 000 60 000
Inventory 90 000 90 000
Land 1 200 000 1 200 000
Bldg 2 600 000 2 600 000
NP (50 000)
TOTAL 300 000 3 800 000 4 100 000
Journalize:
Cash 200k
AR 60k
Inventory 90k
Land 1.2m
Bldg 2.6m
NP 50k
X, Capital 300k
Y, Capital 3.8m

. X, Capital Y, Capital
Contributions 300 000 3 800 000
Capital credit (4.1M * 40%) 1 640 000 (4.1M * 60%) 2 460 000
BONUS (1 340 000) 1 340 000
Journalize:
Y, Capital 1.34m
X, Capital 1.34m

CH2
- Kung walang agreement sa losses, pero may agreement sa profits. Ang gagamiting compu is kung
ano ginagamit sa profits
. Harry James Total
Profit 800 000
Salary 40 000 60 000 -100 000
Bonus 10 000 -10 000
Interest 18 000 9 500 -27 500
Remainder:
662.5K * 60% 397 500 -397 500
662.5K * 40% 265 000 -265 000
455 500 344 500 -