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40,000
Contributed Cap.
70,000
50,000
40,000
160,000
b
Cash . ............................................................ 50,000
Cherry, capital ........................................
Helen, capital ..........................................
Cathy, capital ..........................................
25%
Helen
Cathy
Cherry
Agreed Capital
70,000
50,000
42,500
170,000
42,500
5,250
2,250
Contributed Cap.
Bonus
70,000
5,250
50,000
2,250
50,000
(7,500)
170,000
c.
Cash . ............................................................ 25,000
Helen, capital ............................................... 7,875
Cathy, capital .............................................. 3,375
Cherry, capital ........................................
25%
Agreed Capital
Helen
70,000
Cathy
50,000
Cherry
36,250
145,000
36,250
Contributed Cap.
Bonus
70,000
( 7,875)
50,000
( 3,375)
25,000
11,250
145,000
d. Cash
............................................................50,000
Goodwill............................................................ 30,000
Cherry, capital ........................................
Helen, capital ..........................................
Cathy, capital ..........................................
50,000
21,000
9,000
91,000
59,000
50,000
200,000
Contributed Cap.
70,000
50,000
50,000
170,000
21,000
9,000
____
30,000
e.
Cash ............................................................ 25,000
Goodwill ....................................................... 15,000
Cherry, capital ........................................
Helen
Cathy
25% Cherry
120,000/.75
Agreed Capital
70,000
50,000
40,000
160,000
40,000
Problem 3-6
a. Total agreed capital (P600,000 / 3/4) ......................... P800,000
Santos interest .............................................................. _____1/4
Contribution of Santos ................................................ P200,000
b. Total agreed capital (P630,000/ 3/4) .......................... P840,000
Santos' interest ............................................................. _____1/4
Contribution of Santos ................................................ P210,000
c. Total agreed capital (P624,000/ 3/4) .......................... P832,000
Less: Contributed capital of old partners ................. _600,000
Contributed capital of Santos .................................... P232,000
d. Total agreed capital (P600,000/ 3/4) ..........................
Less: Goodwill..............................................................
Contributed capital .....................................................
Contributed capital of old partners ...........................
Contributed capital of Santos ....................................
P800,000
__10,000
790,000
_600,000
P190,000
Problek 3-7
a. Tony, capital..................................................... 40,000
Noel, capital .................................................
b. Cash
............................................................ 90,000
Noel, capital .................................................
(P180,000) 270,000 x 1/3 = P90,000.
2/3
40,000
90,000
60,000
14,400
9,600
Cash
Noel, Capital
52,000
24,000
52,000
e. Land
Subas, capital
Tony, capital
Subas, capital (P155,200 x 1/4)
Tony, capital (P116,800 x )
Noel, capital
Total resulting capital (P68,000/ 1/4)
Total capital of old partner (net assets)
Increase in value of land
P208,000
232,000
( 24,000)
92,000
55,200
36,800
38,800
29,200
68,000
272,000
_180,000
92,000
g. Cash
Goodwill
Noel, capital
Subas, capital (P60,000 x 3/5)
Tony, capital (P60,000 x 2/5
Subas
Tony
1/5 Noel
60,000/.20
Agreed Capital
136,000
104,000
60,000
300,000
40,000
2.400
1,600
44,000
Contributed Cap. Bonus
100,000
(2,400)
80,000
(1.600)
40,000
4,000
220,000
60,000
60,000
60,000
36,000
24,000
Contributed Cap. Goodwill
100,000
36,000
80,000
24,000
60,000
-___
240,000
60,000
3-8
a. Conny, capital ..................................................40,000.
Andy, capital (P8,000 x 3/4) ............................ 6,000
Benny, capital (P8,000 x 1/4) .......................... 2,000
Cash . ............................................................
48,000
b. Goodwill............................................................ 10,000
Conny, capital .................................................. 40,000
Cash . ............................................................
.................................. 25,000
Conny, capital .................................................. 40,000
Andy, capital (P25,000 x 3/5) .....................
Benny, capital (P25,000 x 1/5)....................
Cash ............................................................
Problem
Problem 3-9
a. Spade, capital ...................................................120,000
Jack, capital .................................................
50,000
c.
b.
15,000
5,000
45,000
120,000
............................. 60,000
Ace, capital...................................................
Jack, capital .................................................
Spade, capital ..............................................
12,000
18,000
30,000
150,000
180,000
60,000
4,000
6,000
10,000
60,000
120,000
e. Goodwill............................................................ 30,000
Spade, capital ...................................................120,000
Cash . ............................................................
150,000
f.
............................. 60,000
Spade, capital ...................................................120,000
Ace, capital (P60,000 x 20%) .....................
Jack, capital (P60,000 x 30%)....................
Cash . ............................................................
12,000
18,000
150,000
8,000
12,000
20,000
100,000
50,000