Latihan Soal dan Jawaban Akuntansi Lanjutan Cp. 15

PROBLEM 15-1 Profit Allocation
Day and Night formed an accounting partnership in 2008. Capital transactions for Day and Night during 2008 are as follows :
Date Transaction Amount
    Day
1/1 Beginning  balance $75,000
4/1 Withdrawal  18,750
6/1 Investment  37,500
11/1 Investment  18,750
     Night
1/1 Beginning  balance $37,500
7/1 Withdrawal  18,750
10/1 Investment    9,375
Partnership net income for the year ended December 31,2008; is $68.400 before considering salaries or interest.
Required :
Determine the amount of profit that is to be allocated to Day and Night in accordance with each of the following independent profit-sharing agreements:
  1. Day and Night failed to provide a profit-sharing arrangement in the articles of partnership and fail to compromise on an agreement.
  2. Net income is to be allocated 60% to Day and 40% to Night.
  3. Net income is to be allocated in the ratio of ending capital balances.
  4. Net income is to be allocated in the ratio of average capital balances.
  5. Interest of 15% is to be granted on average capital balances, salaries of $15,000 and $8,250 are to be allocated to Day and Night, respectively and the remainder is to be divided equally.
Terjemahan :
Day and Night membentuk sebuah Partnership akuntansi pada tahun 2008. Transaksi modal untuk Day and Night selama tahun 2008 adalah sebagai berikut:
Tanggal _ Jumlah _ Transaksi
                 Day
1/1 Saldo awal $ 75.000
4/1 Pengambilan pribadi 18.750
6/1 Investasi 37.500
11/1 Investasi 18.750
                 Night
1/1 Saldo awal $ 37.500
7/1 Pengambilan pribadi 18.750
10/1 Investasi 9.375
Laba bersih partnership untuk tahun yang berakhir pada tanggal 31 Desember 2008 adalah $ 68,400 sebelum mempertimbangkan gaji atau bunga.
Diminta:
Menentukan jumlah laba yang akan dialokasikan untuk Day and Night, perjanjian pembagian laba tidak berpihak sesuai dengan masing-masing persetujuan di bawah ini :
  1. Day and Night gagal menyediakan susunan pembagian laba dalam artikel partner ship  dan gagal untuk berkompromi sesuai kesepakatan.
  2. Laba bersih yang akan dialokasikan 60% untuk Day dan 40% untuk Night.
  3. Laba bersih yang akan dialokasikan dalam rasio saldo akhir modal.
  4. Laba bersih yang akan dialokasikan dalam rasio saldo rata-rata modal.
  5. Bunga sebesar 15% yang akan diberikan di saldo rata-rata modal, gaji $ 15.000 dan $ 8.250 yang akan dialokasikan untuk Day and Night, yang masing-masing sisanya dibagi sama rata.
Answers
  1. Jika perjanjian tidak menyediakan rasio bagi hasil, UPA memberikan keuntungan yang harus dibagi sama rata. Oleh karena itu Day and Night akan mendapatkan aloksi masing-masing sebesar $ 34.200.
  2. Day Allocation 0.60 x $68,400 = $41,040
Night Allocation 0.40 x$68,400 =  27,360
Total $68,400
  1.    Day _   Night   Total
Capital Balance 1/1 $75,000 $37,500 $112,500
+ Investments   56,250  18,750     75,000
- Withdrawals  (18,750)  (9,375)   (28,125)
Balance 12/31 $112,500 $46,875  $159,375

Profit Allocation:
Day : $112,500  x $68,400  = $48,282
    $159,375
Night : $46,875   x $68,400 = $20,118
      $159,375
     $68,400
  1.         Portion of Year       Weighted     Average
           Day                  Maintained          Average        Balance
1/1 Balance         $75,000   x         3/12    $18,750
Withdrawal 4/1 $18,750           56,250   x       2/12        9,375
Investment 6/1    7,500           93,750   x    5/12      39,063
Investment 11/1  18,750         112,500   x    2/12 _      18,750
Average Balance  12/12     $85,938    $85,938*
           Night             
1/1 Balance         $37,500   x         6/12    $18,750
Investment 7/1 $18,750           56,250   x       3/12       14,063
Withdrawal 10/1    9,375           46,875   x    3/12       11,719
Average Balance  12/12          $44,532     $44,532**
          $130,470
Profit Allocation:
Day : $85,938       x $68,400  = $45,054
    $130,470
Night : $44,532    x $68,400  = $23,346
      $130,470
      $68,400
  1.       Day      Night    Total
Interest on average balance        *$12,891        **$6,680 $19,571
Salaries     _ 15,000 _       8,250 _    23,250
     27,891      14,930    42,821
Remainder of $25,579 divided equally 12,790 _ 12,789 25,579
$40,681 $27,719 $68,400
* 0.15 x $85,938  = $12,891 (see part 4)
** 0.15 x $44,532 = $6,680 (see part 4)
PROBLEM 15-2 Income Allocation and Capital Statement
Dave, Brian, and Paul are partners in a retail appliance store. The partnership was formed January 1,2008, with each partner investing $45,000. They agreed that profit and losses are to be shared as follows:
  1. Divided in the ratio of 40:30:30 if net income is not sufficient to cover salaries, bonus, and interest.
  2. A net loss is to be allocated equally.
  3. Net income is to be allocated as follows if net income is in excess of salaries, bonus and interest.
    1. Monthly salary allowances are:
Dave $3,500
Brian  2,500
Paul  1,500
    1. Brian is to receive a bonus of 8% of net income before subtracting salaries and interest, but after subtracting the bonus.
    2. Interest of 10% is allocated based on the beginning-of-year capital balances.
    3. Any remainder is to be allocated equally.
Operating performance and other capital transactions were as follows.
Capital Transactions
       Net Income                  Dave  Brian    Paul
Year-end   (loss)  Investment Withdrawals Investment  Withdrawals Investment  Withdrawals
12/31/08 $(5,400)  $15,000       $17,000      $15,000        $7,000          $6,000          $3,200
12/31/09    27,000  -0-        $17,000               -0-        $7,000          $6,000          $3,200
12/31/10  120,000  -0-        $19,000               -0-        $9,000          $6,000          $3,200
Required:
      1. Prepare a schedule of changes in partners capital accounts for each of the three years.
      2. Prepare the journal entry to close the income summary account to the partners capital accounts at the end of each year.
Terjemahan :
Dave, Brian, dan Paul adalah Partner di sebuah Toko Peralatan eceran. Partnership dibentuk Pada tanggal 01 Januari 2008, dengan masing-masing investasi sebesar $ 45.000. Mereka sepakat bahwa Laba dan Rugi  yang harus dibagi sebagai berikut:
  1. Terbagi dalam rasio 40:30:30 jika laba bersih tidak cukup untuk menutupi gaji, bonus, dan bunga.
  2. Rugi bersih sesuai yang akan dialokasikan.
  3. Laba bersih yang akan dialokasikan sebagai berikut, jika laba bersih lebih dari gaji, bonus dan bunga.
  1. tunjangan gaji bulanan adalah:
Dave $ 3.500
Brian 2500
Paul 1500
  1. Brian menerima bonus 8% dari laba bersih sebelum dikurangi gaji dan bunga, tetapi setelah dikurangi bonus.
  2. Bunga 10% dialokasikan berdasarkan saldo awal modal tahun ini.
  3. sisanya sesuai untuk yang akan dialokasikan.
Kinerja operasi dan transaksi modal lainnya adalah sebagai berikut.
Transaksi modal
Laba Bersih _ Dave _ Brian _ Paul
Akhir tahun _ (rugi) _ Investasi Penarikan _ Investasi _ Penarikan Investasi _ Penarikan
12/31/08 $ (5.400) $ 15.000 $ 17.000 $ 15.000 $ 7.000 $ 6.000 $ 3.200
12/31/09 27.000 -0- $ 17.000 -0- $ 7.000 $ 6.000 $ 3.200
12/31/10 120.000 -0- $ 19.000 -0- $ 9.000 $ 6.000 $ 3.200
Diminta:
    1. Siapkan jadwal perubahan di dalam akun modal partner masing-masing selama tiga tahun.
    2. Buatlah ayat jurnal untuk menutup akun ikhtisar laba rugi ke akun modal partner pada setiap akhir tahun.
Answers
DAVE, BRIAN, AND PAUL PARTNERSHIP
Statement of Changes in Partners' Capital Accounts
For the Years Ended December 31, 2008, 2009, and 2010
December 31, 2008   Dave  Brian    Paul   Total
Beginning Capital Balances - 1/1 $45,000 $45,000 $45,000 $135,000
Add: Investments  15,000  15,000    6,000    36,000
 60,000  60,000  51,000  171,000
Less: Withdrawals (17,000)  (7,000)  (3,200)  (27,200)
     Net loss allocation  (1,800)  (1,800)  (1,800)    (5,400)
Capital Balances - 12/31 $41,200 $51,200 $46,000 $138,400
December 31, 2009
Beginning Capital Balances - 1/1 $41,200 $51,200 $46,000 $138,400
Add: Investments            0            0     6,000       6,000
     Net income allocation (40:30:30)  10,800     8,100     8,100     27,000
 52,000   59,300   60,100   171,400
Less: Withdrawals (17,000)   (7,000)   (3,200)   (27,200)
Capital Balances - 12/31 $35,000  $52,300  $56,900  $144,200
December 31, 2010
Beginning Capital Balances - 1/1 $35,000 $52,300 $56,900 $144,200
Add: Investments            0            0 _      6,000 _       6,000
Net income allocation:
Salaries 42,000  30,000    18,000     90,000
Bonus *    8,889       8,889
Interest   3,500    5,230      5,690     14,420
Residual – Equally divided   2,230    2,231      2,230 _       6,691
47,730  46,350    25,920   120,000
82,730  98,650    88,820   270,200
Less: Withdrawals (19,000)  (9,000) _    (3,200)   (31,200)
Capital Balances - 12/31 $63,730 $89,650   $85,620 _  $239,000
*Bonus = 0.08 (NI - B)
   B = 0.08 ($120,000 - B) = $9,600 - .08B
1.08B = $9,600
       B = $8,889
  1. Closing Journal Entries:
December 31, 2008
Dave, Capital 1,800
Brian, Capital 1,800
Paul, Capital 1,800
 Income Summary 5,400
December 31, 2009
Income Summary 27,000
Dave, Capital 10,800
Brian, Capital  8,100
Paul, Capital  8,100
December 31, 2010
Income Summary 120,000
Dave, Capital 47,730
Brian, Capital 46,350
Paul, Capital 25,920
PROBLEM 15-4 Partner Admission
Brown and Coss have been operating a tax accounting service as a partnership for five years. Their current capital balance are $92,000 and $88,000, respectively and they share profits in a 60:40 ratio. Because of the growth in their tax business, they decide that they need a new partner. Moore is admitted to the partnership, after which the partners agree to share profits 40% to Brown, 35% to Coss, and 25% to Moore.
Required:
Prepare the necessary journal entries to admit Moore in each of the following independent conditions. If the information is such that both the bonus and goodwill method are appropriate, record the admission using both methods.
  1. Moore invest $90,000 in cash and receives a one-third capital interest.
  2. Moore invest $120,000 cash for a 45% capital interest. Total capital after his admission is to be $300,000.
  3. Moore agree to invest $120,000 cash for a one-third capital interest. But will not accept a capital credit for less that his investment.
  4. Moore invest $40,000 cash for a one-fourth capital interest. The partners agree that assets and the firm as a whole should not be revalued.
  5. Moore invest $35,000 cash for a one-fifth capital interest. The partners agree that total capital after the admission of Moore should be $225,000.
  6. Moore invest land in the partnership as a site for a new office building. The land, which originally cost Moore $90.000, now has a current marker value of $150,000, Moore is admitted with a one-third capital interest.
  7. Moore is admitted to the partnership by purchasing a 30% capital interest from each partner. A payment of $35,000 is made outside the partnership and is split between Brown and Coss.
Terjemahan :
Brown dan Coss telah mengoperasikan jasa akuntansi pajak sebagai partnership selama lima tahun. Saldo modal mereka saat ini adalah $ 92.000 dan $ 88.000, masing-masing dan pembagian laba dengan rasio perbandingan 60:40. Karena pertumbuhan bisnis pajak mereka, mereka memutuskan bahwa mereka membutuhkan sebuah partner baru. Moore bergabung masuk kedalam partnership , setelah itu partner setuju untuk pembagian laba  40% untuk Brown, 35% untuk Coss, dan 25% untuk Moore.
Diminta :
Siapkan ayat jurnal yang diperlukan untuk mengakui Moore di setiap kondisi independen berikut. Jika Informasi sedemikian rupa sehingga kedua metode bonus dan goodwill sesuai. pencatatan pengakuan menggunakan kedua metode tersebut.
  1. Moore berinvestasi $ 90.000 dalam bentuk tunai dan menerima sepetiga bunga modal.
  2. Moore berinvestasi $ 120.000 tunai untuk bunga modal sebesar 45%. Total modal setelah pengakuan menjadi $ 300.000.
  3. Moore setuju untuk menginvestasikan $ 120,000 tunai untuk kepentingan sepertiga dari modalnya. Tetapi tidak akan menerima modal sedikit dari investasi nya.
  4. Moore berinvestasi $ 40.000 tunai seperempat dari bunga modal. Partner setuju bahwa Harta dan perusahaan secara keseluruhan tidak harus dinilai kembali.
  5. Moore berinvestasi $ 35.000 tunai untuk kepentingan modal seperlima. Para mitra setuju bahwa jumlah modal setelah pengakuan Moore harus $ 225.000.
  6. Moore investasi tanah di partnership sebagai situs untuk gedung kantor baru. Tanah, yang awalnya biaya sebesar $ 90.000, saat ini telah memiliki nilai $ 150.000, Moore diakui dengan sepertiga dari bunga modal.
  7. Moore diakui partnership dengan membeli bunga modal 30% dari masing-masing partner. Pembayaran sebesar $ 35.000 dibuat di luar partnership dan dibagi antara Brown dan Coss.
Answers
  1. Book value of interest acquired = ($180,000 + $90,000) 1/3 = $90,000
Bonus Method
Cash 90,000
Moore, Capital 90,000
  1. Book value of interest acquired = ($180,000 + $120,000) 0.45 = $135,000
Book value of interest is greater than assets invested.
Bonus Method
Cash 120,000
Brown, Capital (0.60 $15,000)      9,000
Coss, Capital (0.40 $15,000)              6,000
Moore, Capital 135,000
The goodwill method is not applicable because the partners agreed to total capital interest of $300,000.
  1. Book value of interest acquired ($180,000 + $120,000) x 1 = $100,000
    3
Bonus method can not be used because Moore will not accept less than $120,000 capital interest.
Goodwill Method
Total capital implied from contract [$120,000/(1/3)] $360,000
Minus current capital balance + Moore's investment ($180,000 + $120,000)  300,000
Goodwill  $60,000
Goodwill 60,000
Brown, Capital (0.60 $60,000) 36,000
Coss, Capital (0.40 $60,000) 24,000
Cash 120,000
Moore, Capital 120,000

  1. Book value of interest acquired ($180,000 + $40,000) ¼ = $55,000
Book value of interest acquired is greater than assets invested.
Bonus Method
Cash 40,000
Brown, Capital (0.60 $15,000)  9,000
Coss, Capital (0.40 $15,000)  6,000
Moore, Capital 55,000
  1. Book value of interest acquired ($180,000 + $35,000) 0.20 = $43,000
Book value of interest acquired is greater than the asset invested.
Goodwill Method
Total capital  $225,000
Minus recorded value of net assets + Moore's investment ($180,000 + $35,000) 215,000
Goodwill    $10,000
Cash 35,000
Goodwill 10,000
Moore, Capital 45,000

  1. Book value of interest acquired ($180,000 + $150,000) (1/3) = $110,000
Book value of interest acquired is less than asset invested.
Bonus Method
Land 150,000
Brown, Capital (0.60 $40,000) 24,000
Coss, Capital (0.40 $40,000) 16,000
Moore, Capital 110,000
Goodwill Method
Net value of firm implied by contract [$150,000/(1/3)]           $450,000
Minus current capital + Moore's investment ($180,000 + $150,000)   330,000
Goodwill $120,000
Goodwill 120,000
Brown, Capital (0.60 $120,000) 72,000
Coss, Capital (0.40 $120,000) 48,000
Land 150,000
Moore, Capital 150,000

  1. Bonus Method
Brown, Capital (0.30 $92,000) 27,600
Coss, Capital (0.30 $88,000) 6,400
Moore, Capital 54,000


PROBLEM 15-8 Comprehensive Partnership Problem
Brian Snow and Wendy Waite formed a partnership on July 1, 2007. Brian invested $20,000 cash, inventory valued at $15,000 and equipment valued at $67,000. Wendy invested $50,000 cash and land valued at $120,000. The partnership assumed the $40,000 mortgage on the land.
On June 30, 2008, the partnership reported a net loss of $24,000. The partnership contract specified that income and losses were to allocated by allowing 10% interest on the original capital investment, salaries of $15,000 to Brian and $20,000 to Wendy and the remainder to be divided in the ratio of 40:60
On July 1, 2008, Alan Young was admitted into the partnership with a $70,000 cash investment. Alan was given a 30% interest in the partneship because of his special skills. The partners elect to use the bonus method to record the admission. Any bonus should be divided in the old ratio of 40:60.
On June 30, 2009, The partnership reported a net income of $150,000. The new partnership contract stipulated that income and losses were to be divided in a fixed ratio of 20:50:30.
On July 2, 2009, Brian withdrew from the partnership for personal reasons. Brian was given $40,000 cash and a $60,000 note for his capital interest.
Required:
Prepare journal entries for each of the following event. Show computations.
  1. Formation of the partnership.
  2. Distribution of the net loss for the first year.
  3. Admission of Alan into the partnership
  4. Distribution of the net income for the second year.
  5. Withdrawal of Brian from the partnerhip.
Terjemahan :
Brian Salju dan Wendy Waite membentuk partnership pada tanggal 01 Juli 2007. Brian menginvestasikan $ 20.000 tunai, nilai persediaan $ 15.000 dan nilai peralatan $ 67.000. Wendy menginvestasikan $ 50.000 tunai dan nilai tanah $ 120.000. Partnership ini diasumsikan $ 40,000 hipotek atas tanah.
Pada tanggal 30 Juni 2008, Partnership melaporkan rugi bersih sebesar $ 24.000. Kontrak Partnership dispesifikasikan bahwa pendapatan dan kerugian dialokasikan dengan memberikan bunga 10% atas investasi modal asli, gaji sebesar $ 15.000 untuk Brian dan $ 20.000 untuk Wendy dan sisanya akan dibagi dalam rasio perbandingan 40:60.
Pada tanggal 01 Juli 2008, Alan Young mengakui ke partnership dengan investasi uang tunai $ 70.000. Alan diberikan bunga 30% di Partnership karena keahlian khusus nya. Para partner memilih untuk menggunakan metode bonus untuk mencatat penerimaan. Bonus harus dibagi dalam rasio perbandingan yang lama yaitu 40:60.
Pada tanggal 30 Juni, 2009, Partnership melaporkan laba bersih sebesar $ 150.000. Kontrak Partnership baru menetapkan bahwa pendapatan dan kerugian itu harus dibagi dalam rasio tetap sebesar 20:50:30.
Pada tanggal 02 Juli 2009, Brian melakukan pengambilan pribadi dari partnership untuk alasan pribadi. Brian diberikan $ 40.000 tunai dan $ 60.000 wesel untuk bunga modal nya.
Diminta :
Siapkan ayat jurnal untuk masing-masing peristiwa berikut. Berikan cara perhitungannya.
1. Pembentukan Partnershio.
2. Distribusi rugi bersih untuk tahun pertama.
3. Penerimaan Alan ke dalam partnership.
4. Distribusi laba bersih untuk tahun kedua.
5. Pengambilan pribadi Brian dari partnership tersebut.
Answers
  1. Cash 20,000
Inventory 15,000
Equipment 67,000
Snow, Capital 102,000
Cash 50,000
Land 120,000
Mortgage Payable 40,000
Waite, Capital 130,000

  1. Snow, Capital 7,680
Waite, Capital 16,320
Income Summary 24,000
 Snow _  Waite _   Total
Net loss to be allocated
Interest on capital investment
$102,000 x 10% $10,200
$130,000 x 10% $13,000 $23,200
Salaries to partners 15,000   20,000  35,000
 58,200
Allocation 40:60 (32,880) (49,320) (82,200)
Net loss allocated to partners $(7,680) _ $(16,320) $(24,000)
  1. Cash 70,000
Snow, Capital ($13,400 40%)  5,360
Waite, Capital ($13,400 60%)  8,040
Young, Capital 83,400
Capital interest of Snow ($102,000 - $7,680) $94,320
Capital interest of Waite ($130,000 - $16,320) 113,680
Investment of Young   70,000
Total capital interest in new partnership 278,000
Percentage acquired by Young       30%
Capital interest of Young   83,400
Investment by Young (70,000)
Bonus to Young $13,400
  1. Income Summary 150,000
Snow, Capital ($150,000 20%)  30,000
Waite, Capital ($150,000 50%)  75,000
Young, Capital ($150,000 30%) 45,000
  1. Snow, Capital 118,960*
Waite, Capital ($18,960 50/80) 11,850
Young, Capital ($18,960 30/80)  7,110
Cash 40,000
Note Payable 60,000

*$102,000 - $7,680 - $5,360 + $30,000 = $118,960

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