Contoh Soal :

1. Exercise 15-9 : Partner Admission.

Beth, Steph, and Linda have been operating a small gift shop for several
years. After an extensive review of their past operating performance, the partners
concluded that the business needed to expand in order to provide an adequate
return to the partners. The following balance sheet is for the partnership prior to
the admission of a new partner, Mary.
Cash $160,000
Other Assets $640,000
$800,000

Liabilities $200,000
Beth, Capital (40%) $265,000
Steph, Capital (40%) $215,000
Linda, Capital (20%) $120,000
$800,000
Figures shown parenthetically reflect agreed profit-and-loss sharing
percentages.
Required:
Prepare the necessary journal entries to record the admission of Mary in each
of the following independent situations. Some situations may be recorded in more
than one way.
1. Mary is to invest sufficient cash to receive a one-sixth capital interest. The
parties agree that the admission is to be recorded without recognizing
goodwill or bonus.
2. Mary is to invest $160,000 for a one-fifth capital interest.
3. Mary is to invest $160,000 for a one-fourth capital interest.
4. Mary is to invest $160,000 for a 40% capital interest.

Jawab :
1. Calculation of investment:
($265,000 + $215,000 + $120,000) = $720,000.
5/6
Mary Investment : $720,000 x (1/6) = $120,000.
 Journal :
Cash $120,000
Mary, Capital $120,000

2. Bonus Method :
Mary invested $160,000
Book value = ($600,000 +$160,000) x 1/5 = $152,000
$8,000
Book value is less than Mary Invested ($152,000 < $160,000)
Journal :
Cash $160,000
Beth, Capital (40% x 8,000) $3,200
Steph, Capital (40% x 8,000) $3,200
Linda, Capital (20% x 8,000) $1,600
Mary, Capital $152,000

Goodwill Method :
Mary Invested $160,000
Interest of partnership (1/5) 20%
Total implied capital $800,000
Less : Current Capital + Marry Capital (600,000+160,000) $760,000
Goodwill $40,000

Journal :
Goodwill $40,000
Beth, Capital (40% x 40,000) $16,000
Steph, Capital (40% x 40,000) $16,000
Linda, Capital (20% x 40,000) $8,000

Cash $160,000
Mary, Capital $160,000
3. Bonus Method :
Mary invested $160,000
Book value = ($600,000 +$160,000) x 1/4 = $190,000
$30,000
Book value is more than Mary Invested ($190,000 > $160,000)
Journal :
Cash $160,000
Beth, Capital (40% x 30,000) $12,000
Steph, Capital (40% x 30,000) $12,000
Linda, Capital (20% x 30,000) $6,000
Mary, Capital $190,000
Goodwill Method :
Current partner capital $600,000
Percentage interest (25% Mary, current partner 75%) 75%
Total implied capital $800,000
Less : Current Capital + Marry Capital (600,000+160,000) $760,000
Goodwill $40,000

Journal :
Cash $160,000
Goodwill $40,000
Mary, Capital $200,000

4. Bonus Method :
Mary invested $160,000
Book value = ($600,000 +$160,000) x 40% = $304,000
$144,000
Book value is more than Mary Invested ($304,000 > $160,000)
Journal :
Cash $160,000
Beth, Capital (40% x 144,000) $57,600
Steph, Capital (40% x 144,000) $57,600
Linda, Capital (20% x 144,000) $28,800
Mary, Capital $304,000
 Goodwill Method :
Current partner capital $600,000
Percentage interest (40% Mary, current partner 60%) 60%
Total implied capital $1,000,000
Less : Current Capital + Marry Capital (600,000+160,000) $760,000
Goodwill $240,000

Journal :
Cash $160,000
Goodwill $240,000
Mary, Capital $400,000

2. Exercise 12 : Income Allocation With Bonus.

The partnership agreement of ABC Associates provides that income should
be allocated in the following manner:
1. Each partner receives interest of 20% of beginning capital.
2. Sue receives a salary of $25,000 and Josh receives a salary of $21,000.
3. Josh also receives a bonus of 10%.
4. Residual—divided equally.
The partnership’s net income for 2019 was $90,000. Beginning capital balances
were Sue, $30,000; Josh, $40,000.
Required:
Prepare a schedule to allocate the net income under each of the following
independent situations:
A. Bonus is to be based on income before any profit allocation to partners for
interest and salary.
B. Bonus is to be based on income after subtracting the bonus, but before
allocation to partners for interest and salary.
C. Bonus is to be based on income after subtracting the bonus, interest, and
salary.
Jawab :
A. B = 10% x Net Income
B = 10% x $90,000.
B = $9,000 (Josh)

Sue Josh
Keterangan Total
$30,000 $40,000
Interest (20%) $6,000 $8,000 $14,000
Salary $25,000 $21,000 $46,000
Bonus $9,000 $9,000
$31,000 $38,000 $69,000
Remander dividend equally $10,500 $10,500 $21,000
Total allocation $41,500 $48,500 $90,000

B. B = 10% x (Net Income - Bonus)

B = 10% x (90,000 - B)
B = 9,000 - 0,1B
B + 0,1B = 9,000
1,1B = 9,000
B = 8,182 (Josh)
Sue Josh
Keterangan Total
$30,000 $40,000
Interest (20%) $6,000 $8,000 $14,000
Salary $25,000 $21,000 $46,000
Bonus $8,182 $8,182
$31,000 $37,182 $68,182
Remander dividend equally $10,909 $10,909 $21.818
Total allocation $41,909 $48,091 $90,000

C. B = 10% x (Net Income - Interest - Salary - Bonus)

B = 10% x (90,000 - 14,000 - 46,000 - B)
B = 10% x (30,000 - B)
B = 3,000 - 0,1B
 B + 0,1B = 3,000
1,1B = 3,000
B = 2,727 (Josh)
Sue Josh
Keterangan Total
$30,000 $40,000
Interest (20%) $6,000 $8,000 $14,000
Salary $25,000 $21,000 $46,000
Bonus $2,727 $2,727
$31,000 $31,727 $62,727
Remander dividend equally $13,636.5 $13,636.5 $27.273
Total allocation $44,636.5 $45,363.5 $90,000

3. Problem 15-4 : Partner Admission.

Brown and Coss have been operating a tax accounting service as a
partnership for five years. Their current capital balances are $92,000 and
$88,000, respectively, and they share profits in a 60:40 ratio. Because of the
growth in their tax business, they decide that they need a new partner. Moore is
admitted to the partnership, after which the partners agree to share profits 40% to
Brown, 35% to Coss, and 25% to Moore.
Required:
Prepare the necessary journal entries to admit Moore in each of the following
independent conditions. If the information is such that both the bonus and
goodwill methods are appropriate for internal pruposes, record the admission
using both methods.
A. Moore invests $90,000 in cash and receives a one-third capital interest.
B. Moore invests $120,000 cash for a 45% capital interest. Total capital after his
admission is to be $300,000.
C. Moore agrees to invest $120,000 cash for a one-third capital interest, but
will not accept a capital credit for less than his investment.

Jawab :
A. Moore invested $90,000
Book value = ($180,000 +$90,000) x 1/3 = $90,000
Sama
*180,000 dari 92,000 + 88,000
 Journal : Bonus Method.
Cash $90,000
Moore, Capital $90,000

B. Moore invested $120,000

Book value = ($180,000 +$120,000) x 45% = $135,000
$15,000 (bonus method)
Journal : Bonus Method.
Cash $120,000
Brown, Capital (60% x 15,000) $9,000
Coss, Capital (40% x 15,000) $6,000
Moore, Capital $135,000

*The goodwill method is not applicable because the partners agreed to total
capital interest of $300,000.

C. Moore invested $120,000

Book value = ($180,000 +$120,000) x 1/3 = $100,000
$20,000 (goodwill method)
*Bonus method can not be used because Moore will not accept less than
$120,000 capital interest.

Goodwill Method :
Moore Invested $120,000
Interest of partnership (1/3) 1/3
Total implied capital $360,000
Less : Current Capital + Moore Capital (180,000+120,000) $300,000
Goodwill $60,000

Journal :
Goodwill $60,000
Brown, Capital (60% x 60,000) $36,000
Coss, Capital (40% x 60,000) $24,000
Cash $120,000
Mary, Capital $120,000