Soal TM 2 Pertemuan 7
Soal-soal
Accounting for Partnerships
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Petunjuk Pengerjaan Tugas Mandiri
Soal Tugas Mandiri (TM) dikerjakan secara berkelompok,
di tulis tangan pada kertas double folio dengan
rapi.Kelompok terdiri atas maksimal 3 orang anggota.
Dikumpulkan pada awal kuliah minggu/pertemuan
berikutnya.
Jawaban Soal TM yang sama, oleh mahasiswa secara
perorangan (individual) harus di “up load” pada forum
diskusi di binusmaya (LMS), pada kolom tugas. Up load
haryus sudah dilakukan paling lambat 7 hari setelah
pertemuan yang dimaksudkan.
Bila anda mengerjakan salah satunya saja atau tidak
keduanya maka anda dianggap tidak mengumpulkan TM
pada pertemuan yang dimaksudkan.
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SOAL TUGAS MANDIRI 7
P 13-2B
At the end of its first year of operations on December 31, 2005. Tara Company’s
accounts show the following.
Partners
Rhett Butler
Scarlet O’hara
Ashley Wilkes
Drawings
$23,000
14,000
20,000
Capital
$48,000
30,000
25,000
The capital balance represents each partner’s initial capital investment. Therefore, net income or net
loss for 2005 has not been closed to the partners’ capital accounts.
Instructions
a. Journalize the entry to record the division of net income for the year 2005 under each of the
following independent assumption.
(1) Net income is $24,000. Income is shared 6:3:1.
(2) Net income is $37,000. Butler and O’Hara are given salary allowances of $18,000 and
$10,000, respectively. The remainder is shared equally.
(3) Net income is $22,000. Each partner is allowed interest of 10% on beginning capital
balances. Butler is given a $12,000 salary allowance. The remainder is shared equally.
b. Prepare a schedule showing the division of net income under assumption (3) above.
c. Prepare a partners’ capital statement for the year under assumption (3) above.
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SOAL TUGAS MANDIRI 7
P 13-3B
The partners in Road Show Company decide to liquidate the firm when the balance
sheet shows the following.
ROAD SHOW COMP ANY
Balance Sheet
May 31, 2005
Assets
Liabilities and Owners’ Equity
Cash
$ 27,500
Notes payable
$ 13,500
Accounts receivable
25,000
Accounts payable
27,000
Allowance for doubpful accounts
(1000)
Wages payable
3,800
Marchandise inventory
34,500
B. Crosby, Capital
33,000
Eqiupment
21,000
B. Hope, Capital
21,000
Accumulated depreciation-equipment
(5,500)
D. Lamour, Capital
3,200
Total
$101,500
$101,500
The partners share income and loss 5 : 3 : 2. During the process of liquidatio n, the following
transactions were completed in the following sequence.
1. A total of $50,000 was received fro m converting noncash assets into cash.
2. Liabilities were paid in full.
3. D. Lamour paid his capital deficiency.
4.
Cash was paid to the partners with credit balances.
Instructions
a. Prepare the entries to record the transactions.
b. Post to the cast and capital acco unts.
c. Assume that Lamour is unable to pay the capital deficiency,
(1) Prepare the ebtry to allocate Lamour’s debit balance to Crosby and Hope.
(2) Prepare the entry to record the final distribution of cash.
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SOAL TUGAS MANDIRI 7
P13-4B At April 30 partners’ capital balances in RBB company are: S.
Rocky $62,000; X. Bullwinkle $48,000; and T. Boris $14,000. The income
sharing ratios are 5:4:1, respectively. On May 1, the RBBN Company is
formed by admitting D. Natasha to the firm as a partner.
Instruction
a) Journalize the admission of Natasha under each of the following
independent assumptions.
1. Natasha purchases 50% of Boris’s ownership interest by
paying Boris $16,000 in cash.
2. Natasha purchases 33 1/3% of Bullwinkle’s ownership interest
by paying Bullwinkle $15,000 in cash.
3. Natasha invests $75,000 for a 30% ownership interest, and
bonuses are given to the old partner.
4. Natasha invests $40,000 for a 30% ownership interest, which
includes a bonus to the new partner.
b) Bullwinkle’s capital balance is $30,000 after admitting Natasha to
the partnership by investment. If Bullwinkle’s ownership interest is
20% of total partnership capital, what were (1) Natasha’s cash
investment and (2) the bonus to the new partner?
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