Marko Jericho Deado

`1
Transfer of Revised
a Existing capital Profit Agreed capital interest capital
-
Aries 120,000 80,000 200,000 50,000 150,000
-
Cyres 60,000 40,000 100,000 25,000 75,000

Bien 75,000 75,000

total 180,000 120,000 300,000 300,000

75,000

5,000

80,000

Income summary 120,000

Aries, Capital 80,000

Cyres, Capital 40,000

Aries, Capital 50,000

Cyres, Capital 25,000

Bien, Capital 75,000

c
Transfer of Revised
a Existing capital Profit Agreed capital interest capital
-
Aries 120,000 80,000 200,000 50,000 150,000
-
Cyres 60,000 40,000 100,000 25,000 75,000

Bien 75,000 75,000

total 180,000 120,000 300,000 300,000

Before adjustment Transfer of interest After adjustment

-
Aires 0.67 0.17 0.50
-
Cyres 0.33 0.08 0.25

Bein 0.25 0.25

Total 1.00 1.00

d
Aries, capital
jun30 150,000

Profit share 96,250

Aries, capital
dec31 246,250

`2
Agreed Asset
Contributed capital capital revaluation
-
Aries 200,000 160,000 40,000
-
Cyres 100,000 80,000 20,000

Bien 80,000 80,000

-
380,000 320,000 60,000

Aries, capital 40,000

Cyres, capital 20,000

Assets 60,000
cash 80,000

Bien, capital 80,000

b
Agreed Asset
Contributed capital capital revaluation
-
Aries 200,000 160,000 40,000
-
Cyres 100,000 80,000 20,000

Bien 80,000 80,000

-
380,000 320,000 60,000

c
Aries, capital june
30 160,000

profit share 76,200

Aries, capital dec
31 236,200

Aries Cyrus Bien total

salaries 5,000 5,000 5,000 15,000

bonus 12,955 12,955 25,910

Remainder 58,295 29,147 29,148 116,590

total 76,250 47,102 34,148 157,500

`3
Agreed Asset Adjusted revised
Investment capital revaluation capital transfer of interest equity

Anson 125,000 60,000 185,000 36,000 149,000

Rustan
 75,000 40,000 115,000 24,000 91,000

Mr. Sy 60,000 60,000

200,000 300,000 10,000 30,000   300,000

Land 100,000

Anson, Capital 60,000

Rustan, Capital 40,000

Anson, capital 36,000

Rustan, capital 24,000

Mr. Sy, capital 60,000

`4
agreed Asset
a. Contributed capital capital revaluation

Anson 125,000 149,000 24,000

Rustan 75,000 91,000 16,000

Mr. Sy 60,000 60,000

260,000 300,000 40,000

Asset 40,000

Anson, Capital 24,000

Rustan, Capital 16,000

Cash 60,000

Capital, Mr. Sy 60,000

b.
Contributed capital Agreed Bonus
 capital

Anson 125,000 130,000 5,000

Rustan 75,000 78,000 3,000

-
Mr. Sy 60,000 52,000 8,000

260,000 260,000

Cash 60,000

Mr. Sy, Capital 60,000

Mr. Sy, Capital 8,000

Anson, Capital 5,000

Rustan, capital 3,000

c
Agreed
Contributed Capital capital Goodwill

Anson 125,000 125,000

Rustan 75,000 75,000

Mr. Sy 60,000 66,667 6,667

260,000 266,667 6,667

Cash 60,000

Goodwill 6,667

Mr. Sy, Capital 66,667

`5
a.
Existing Capital
Profit Share Total investment
Agreed Capital
Asset Revaluation
Transfer of interest
Revised capital
Luz 50,000 21,000 71,000 70,000 - 1,000 70,000
Lanz 30,000 10,500 40,500 40,000 - 500 - 20,000 20,000
Ted 40,000 10,500 50,500 50,000 - 500 - 25,000 25,000
Cha 40,000 40,000 45,000 40,000
Joy 45,000
120,000 42,000 202,000 200,000 - 2,000 - 200,000

b
Income summary 42,000
Luz, Capital 21,000
Lanz, Capital 10,500
Ted, Capital 10,500

Luz, Capital 1,000

Lanz, Capital 500
Ted, Capital 500 2,000
Assets

Cash 40,000
Lanz, Capital 20,000
Ted, Capital 25,000
Cha, Capital 40,000
Joy, Capital 45,000

c
Total transferred interest
45,000
Amount paid 33,750
Loss 11,250

Allocation of loss:
lanz (20/45*11,250)5,000
ted (25/45*11,250) 6,250

D Profit ratio
Original profitTransfer
ratio of interest
Transfer
(Cha)of interest
Revised (Joy)
profit ratio
Luz 0.50 - 0.10 0.40
Lanz 0.25 - 0.05 0.10 0.10
Ted 0.25 - 0.05 0.10 0.10
Cha 0.20 0.20
Joy 0.20 0.20

Profit share
Luz 30,800 Laz, Capital jun30
20,000
Lanz 7,700 Profit share 7,700
Ted 7,700 Drawings - 2,000
Cha 15,400 Laz, Capital Dec
25,700
31
Joy 15,400
77,000
`6
a. Lane, Capital 142,000
Share in profit 30,000
Withdrawal 2000
Loan payable
to L 10,000
Adjusted
capital 184,000

b. Lane, capital 180,000

Kate, 102,857.1
Capital 4
Clare,
Capital 77,142.86

c. Lane, Capital 180,000

Kate, Capital 8000
Clare, Capital 6,000
Cash 166,000

Lane, Capital 166,000

Cash 166,000

Lane, Capital 142,000

Cash 142,000

`7

Lane's Updated Capital 180,000

Cash paymenet from the
partnership 171,000

Share of Lane in Asset Impairment 9,000

Total Asset impairment 40,500

a. Kate, Capital 18000

Clare, Capital 13500

Lane, Capital 9000

Assets 40,500

Lane, Capital 171,000

Cash 171,000

Lane, capital 180,000

Cash 171,000

Clare, capital 3,857

kate, capital 5,143

b. Income summary 210,000

Kate, drawing 120,000

Clare, Capital 90,000

`8
july 1
2019 Carl, Capital 35,000

Carl, Drawing 5,000

Payable to Carl's Estate 30,000

dec 31
2019 Income Summary 9,000

Payable to Carl's Estate 9,000

 Income summary 2,640

Payable to Carl's Estate 2,640

Income Summary 78,360

Anne, Drawing 48,975

Bien, Drawing 29,385

June 30 Payable to Carl's

2020 estate 41,640

Interest expense 2,640

Cash 44,280

c. Ann Bien Carl

Capital, jan 1 40,000 50,000 30,000

Profit share 48,975 29,385 9,000

Drawings 5,000 7,500 5,000

Capital, dec 31 83,975 86,885 44,000

`9
a. L M N O P Total
480, 120,0 120,0 240,0 240,0 1,200,0
Balances 000 00 00 00 00 00
90, 22,5 22,5 45,0 45,0 225,
Revalue 000 00 00 00 00 000
10, 2,5 2,5 5,0 5,0 25,
Accrue 000 00 00 00 00 000
560, 140,0 140,0 280,0 280,0 1,400,0
Adjusted 000 00 00 00 00 00
11, 2,8 2,8 5,6 5,6 28,
No. of Shares 200 00 00 00 00 000
40% 10% 10% 20% 20% 50

b. L M N O P Total
No. of Shares 8000 2000 2000 4000 4000 20,000

Current Assets 750,000

Non current assets 975,000

Payables 325,000

Share capital 1,000,000

Share premium 400,000

Adjusted 1,400,000

Capital shares 1,000,000

Aditional paid in
capital 400,000