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Acctg Problem 2-9

Problem #2 summarizes the capital contributions and profits of partners Ables and Galang. Their total average capital is the sum of their individual capital balances. Problem #3 details the contributions, remainder after expenses, and profit sharing amounts for partners Abad, Aglugub, and Onate under two scenarios. Problem #4 outlines the salaries, balances to divide, and profit sharing for partners Baral, Malaluan, and Castro over two six-month periods. Problem #9 shows the initial investments, salaries, interest payments, and profit sharing between partners Mones, Tuazon, and Pitular based on their capital ratios.

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863 views4 pages

Acctg Problem 2-9

Problem #2 summarizes the capital contributions and profits of partners Ables and Galang. Their total average capital is the sum of their individual capital balances. Problem #3 details the contributions, remainder after expenses, and profit sharing amounts for partners Abad, Aglugub, and Onate under two scenarios. Problem #4 outlines the salaries, balances to divide, and profit sharing for partners Baral, Malaluan, and Castro over two six-month periods. Problem #9 shows the initial investments, salaries, interest payments, and profit sharing between partners Mones, Tuazon, and Pitular based on their capital ratios.

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Honeybunch before
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© © All Rights Reserved
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Problem #2

Ables Galang Total


Contribution 275,000 225,000 500,000
Profit 440,000 360,000 800,000
Ables capital + Galang ave. Capital = Total Ave. Capital Balances

Problem #3
Abad, Aglugub, and Onate

A.

Abad Aglugub Onate Total


Contributions 300,000 250,000 450,000 1,000,000
Remainder -219,000 -182,500 -328500 -730,000
Profit sharing 81,000 67,500 121,500 270,000

B.
Abad Aglugub Onate Total
Contributions 300,000 250,000 450,000 1,000,000

Remainder -372,000 -310,000 -558,000 -1,240,000


Profit sharing -72,000 -60,000 -108,000 -240,000

Problem #4
Baral and malaluan

Baral Malaluan Castro Total


Salaries 6 months 15,000 15,000
6 months 25,000 25,000
Balance to be divided 96,000 64,000 160,000

60,000 60,000 30,000 150,000


Profit Sharing 196,000 124,000 30,000 350,000

6 months 111,000 64,000 -


6 months 85,000 60,000 30,000

Problem #9
Mones, Pitular and Tuazon
Mones Tuazon Pitular Total

Initial Investment 2,000,000 1,000,000 1,000,000 4,000,000

Salaries 120,000 60,000 60,000 240,000


Interest 5% 100,000 50,000 50,000 200,000

Remainder 4:1:1 -60,000 -15,000 -15,000 -90,000


Profit 160,000 95,000 95,000 350,000
Solutions!
Ables 275,000 x 12/12 = 275,000
Galang Galang
January 1 to August 31 133,333.33 200,000 x 8/12 = 133,333.33
September 1 to December 31 91,666.67 275,000 x 4/12 = 91,666.67
Average Capital 225,000.00 225,000.00

Solutions

Abad 300,000
Aglugub 250,000
Onate 450,000

A. Profit 270,000 B. 240,000 Loss

Abad 270,000 x 300,000/1,000,000 = 81,000 Abad 240,000 x 300,000/1,000,000

Aglugub 270,000 x 250,000/1,000,000 67,500 Aglugub 240,000 x 250,000/ 1,000,000


Onate 270,000 x 450,000/1,000,000 121,500 Onate 240,000 x 450,000/ 1,000,000

Solutions!
6mnths to Jun 30, 2021
6 mnths to Dec. 31 2021
6 mths to Jun 30,2021
72,000

60,000
108,000

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