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    Partnership Operation Exercises

    Uploaded by

    Arlene Diane Orozco
    This document contains multiple partnership operation exercises involving calculations of capital balances, salaries, bonuses, interest earned and remaining balances over time for various partners. The exercises demonstrate accounting for investments, withdrawals, weighted average capital and distributing profits according to capital contribution percentages.

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    © All Rights Reserved
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    Partnership Operation Exercises

    Uploaded by

    Arlene Diane Orozco
    52 views3 pages
    This document contains multiple partnership operation exercises involving calculations of capital balances, salaries, bonuses, interest earned and remaining balances over time for various partners. The exercises demonstrate accounting for investments, withdrawals, weighted average capital and distributing profits according to capital contribution percentages.

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    Partnership Operation Exercises.docx

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    This document contains multiple partnership operation exercises involving calculations of capital balances, salaries, bonuses, interest earned and remaining balances over time for various partners. The exercises demonstrate accounting for investments, withdrawals, weighted average capital and distributing profits according to capital contribution percentages.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    52 views3 pages

    Partnership Operation Exercises

    Uploaded by

    Arlene Diane Orozco
    This document contains multiple partnership operation exercises involving calculations of capital balances, salaries, bonuses, interest earned and remaining balances over time for various partners. The exercises demonstrate accounting for investments, withdrawals, weighted average capital and distributing profits according to capital contribution percentages.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Arlene Diane V.

    Orozco
    Partnership Operation
    Exercises

    1. a b c d
    Beg. Bal. Jan.1 140,000 140,000 6 840,000
    Add. Investment, July 1 40,000 180,000 1 180,000
    Withdrawal, Aug.1 (15,000) 165,000 5 825,000
    Total 1,845,000
    Divided by: No. of months in period 12
    Total 153,750
    Multiply by: Interest rate 10%
    Multiply by: months outstanding 12/12
    Interest on weighted average capital 15,375 B
    2. .A
    ROBERT ROY JAY R TOTAL
    Beg. Capital 220,800 219,500 211,200 651,500
    Salaries 35,200 35,200
    Interest 41,600 48,000 44,800 134,400

    Remaining -4,900 -4,900 -4,900 -14,700


    257,500 297,800 251,100 806,400

    3. A
    Xander Agnes Kate TOTAL
    4. B
    Beg. Capital 88,000 64,000 90,000 242,000
    Salaries 16,000 8,000 24,000
    Interest 8,800 6,400 9,000 24,200

    Remaining -32,100 -12,840 -19,260 -64,200


    80,700 57,560 87,740 226,000
    Withdrawals -8,000 -8,000 -8,000 -8,000
    End, Capital balance 2020 72,700 49,560 79,740 218,000
    Salaries 16,000 8,000 24,000
    Interest 7,270 4956 7,974 20,200

    Remaining -6,100 -2,440 -3,660 -12,200


    89,870 52,076 92,054 250,000
    Withdrawal -8,000 -8,000 -8,000  
    Ending, capital balance 2021 81,870 44,076 84,054 250,000

    5. D
    6. D
    7. D
    8. D
    9. 60,000 x 20% =12,000 B
    10. A, Capital
    100,000 ÷ 185,000 = .54
    240,000 x .54 = 129,600
    B, Capital
    85,000 ÷ 185,000 = .46
    240,000 x .46 = 110,400
    11. A B Total
    Interest 20,000 17,000 37,000
    Remaining
    (240,000 – 37,000)/2 101,500 101,500 203,000
    121,500 118,500 A

    12. Young Zinc Total


    Interest 16,000 10,000 26,000
    Remaining
    (4,000 – 26,000)/2 (11,000) (11,000) (22,000)
    5,000 (1,000) A

    13. Red White Total


    Salaries 55,000 45,000 100,000
    Remaining
    (80,000 – 100,000) (12,000) (8,000) (20,000)
    43,000 37,000 B
    14. B
    15. Let x = Income after Bonus
    .10x = Bonus
    x = 44,000 - .10x
    x+.10x = 44,000
    1.10x = 44,000
    x = 44,000/1.10
    x = 40,000

    Bonus = 40,000 x 10%


    = 4,000 C

    Marfe Trimidal Mantilla Total


    Bonus 10,000
    10,000
    Interest 4,800 3,000 1,800 9,600
    Remaining
    (100,000 – 10,000 – 9,600)/3 26,800 26,800 26,800 80,400
    28,600 A
    16.
    Mikasa Eren Total
    120,00
    Salaries 60,000 60,000 0
    Bonus Expense

    300,00
    Remaining 150,000 150,000 0
    17. 210,000 210,000 D
    AA BB Total
    45,00
    Salaries 30,000 0 75,000
    Bonus 2,500 2,500
    Interest 2,000 3,500 5,500

    Remainin 13,00
    g 6,500 0 19,500
    61,50 102,50
    41,000 C 0 0

    18. B
    19. A
    20. D

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