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Partnership Capital Structure Overview

The document discusses a partnership admitting a new industrial partner with a 15% profit share. It provides financial information on the partnership's assets, liabilities, and partner equity both before and after admitting the new partner.

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Dianne Jane Liray
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4 views2 pages

Partnership Capital Structure Overview

The document discusses a partnership admitting a new industrial partner with a 15% profit share. It provides financial information on the partnership's assets, liabilities, and partner equity both before and after admitting the new partner.

Uploaded by

Dianne Jane Liray
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Acc101Q21C

1.
Requirement 1a.

Cash P 200,000
Furniture and Fixtures 120,000
Transportation Equipment 850,000
Accounts Payable P 100,000
Maula, Capital 270,000
Montecina, Capital 800,000
Jeremy Maceda was admitted in the partnership as an industrial partner with a
15% share in profit.

Requirement 1b.

Cash P 200,000
Furniture and Fixtures 120,000
Transportation Equipment 850,000
Maula, Capital P 270,000
Montecina, Capital 900,000
Jeremy Maceda was admitted in the partnership as an industrial partner with a
15% share in profit.
2.

ASSETS CURRENT LIABILITIES


Current Assets: Accounts Payable 100,000
Cash 200,000
Non-Current Assets: PARTNERS EQUITY
Furniture and fixtures 120,000 Maula, Capital 270,000
Transportation Equipment 850,000 970,000 Montecina, Capital 800,000
Maceda, Capital __________
Total Partners’ Equity: 1,170,000
Total Assets: 1,170,000 Total Liability & Partners’ Equity: 1,170,000

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