Case A

Jul-01 Cash 500,000.00

Office equipment 60,000.00
Accumulated depreciation - office equipment (15,000.00)
Rose, Capital

Furniture and fixtures 100,000.00

Guada, Capital

Memorandum entry:
Guada is admitted as an industrial
partner with ___ share in profits

Case B 2018 Cash 720,000.00

May-01 Building 1,500,000.00
Mortgage loan
Romy, Capital
Vic, Capital
 Case B
Romy Vic
Building 1,500,000.00
Office equipment 30,000.00 220,000.00
545,000.00 Furniture and fixture 50,000.00
1,530,000.00 270,000.00

100,000.00

300,000.00
600,000.00
1,320,000.00
 RGM Partnership
Statement of Financial Position
Case C

ASSETS
Current Assets
1,800,000.00 Cash
Trade and other receivables
Prepaid expenses
Non-current assets
Property, plant, and equipment
Total Assets

LIABILITIES AND PARTNERS' EQUITY

Partners' Equity
Rosario, Capital
Guadalupe, Capital
Maria, Capital
Notes Note 1: Trade and other receivables
Accounts receivables
Allowance for doubtful accounts
₱ 205,000.00 Net realizable value
1 -
2 - ₱ 205,000.00 Note 2: Prepaid expenses
Office supplies
3 - Total Prepaid expenses
₱ 205,000.00
Note 3: Property, plant, and equipment
Office equipment
Furniture and fixture
320,000.00 Total Property, plant, and equipment
225,000.00
217,000.00

₱ 762,000.00
 95,000.00
(10,000.00)
85,000.00

12,000.00
12,000.00

320,000.00
140,000.00
460,000.00
1) Francis, Capital 2,800.00
Allowance for bad debts

2) Landscaping supplies 10,000.00

Francis, Capital

3) Francis, Capital 100,000.00

Accumulated depreciation - Furniture and Fixtures

Cash 1,634,200.00
Vic, Capital
 Cash 130,000.00 Allowance for bad debts
2,800.00 Accounts receivable 720,000.00 Accounts payable
Allowance for bad debts 10,800.00 Francis, Capital
Landscaping supplies 560,000.00
10,000.00 Furniture and equipment 800,000.00

Accounts payable 565,000.00

100,000.00 Francis, Capital 1,634,200.00
TOTAL 2,210,000.00 2,210,000.00
Cash
Accounts receivable
1,634,200.00 Landscaping supplies
Furniture and equipmen

Cash
 Fr

Allowance for bad debts 10,800.00

Accounts payable 565,000.00
Francis, Capital 1,634,200.00
Cash 130,000.00 Current Assets
Accounts receivable 720,000.00
Landscaping supplies 560,000.00
Furniture and equipment 800,000.00
Non-current assets

Cash 130,000.00 Total Assets

Accounts receivable 720,000.00
Landscaping supplies 560,000.00
Furniture and equipment 800,000.00 Current Liabilities
Allowance for bad debts 10,800.00
Accounts payable 565,000.00 Partners' Equity
Francis, Capital 1,634,200.00

Cash 1,634,200.00
Pio, Capital 1,634,200.00

3,844,200.00 3,844,200.00
 Francis & Pio Landscaping Services
Statement of Financial Position
October 01, 2018
Notes
ASSETS
Current Assets
Cash ₱ 1,764,200.00
Trade and other receivables 1 709,200.00
Landscaping Supplies 560,000.00 ₱ 3,033,400.00
Non-current assets
Furniture and equipment 800,000.00
Total Assets ₱ 3,833,400.00

LIABILITIES AND PARTNERS' EQUITY

Current Liabilities
Accounts payable 565,000.00
Partners' Equity
Francis, Capital 1,634,200.00
Pio, Capital 1,634,200.00 3,268,400.00
₱ 3,833,400.00
Note 1: Trade and other receivables
Accounts receivables ₱ 720,000.00
Allowance for doubtful accounts (10,800.00)
Net realizable value ₱ 709,200.00
Anne, Capital 2,500.00 Cash
Allowance for doubtful accounts 2,500.00 Accounts receivable
Catering supplies invento
Catering supplies inventory 5,000.00 Catering utensils and equ
Anne, Capital 5,000.00 Accounts payable

Anne, Capital 3,300.00

Accumulated depreciation 3,300.00
Cash
Accounts receivable
Catering supplies invento
Catering utensils and equ

Allowance for doubtful ac

Account payable
Anne, Capital

Cash
Accounts receivable
Catering supplies invento
Catering utensils and equ

TOTAL

Cash
Cash 25,000.00 St
Accounts receivable 75,000.00
Catering supplies inventory 10,000.00
Catering utensils and equipment 120,000.00
Accounts payable 8,000.00 Current Assets
Allowance for doubtful accounts 5,000.00
Accumulated depreciation 6,700.00

Cash 25,000.00 Non-current assets

Accounts receivable 75,000.00
Catering supplies inventory 15,000.00 Total Assets
Catering utensils and equipment 110,000.00
Allowance for doubtful accounts 7,500.00
Account payable 8,000.00 Current Liabilities
Anne, Capital 209,500.00
Partners' Equity
Allowance for doubtful accounts 7,500.00
Account payable 8,000.00
Anne, Capital 209,500.00 Total Liabilities and Partners' equity
Cash 25,000.00
Accounts receivable 75,000.00
Catering supplies inventory 15,000.00
Catering utensils and equipment 110,000.00

Cash 25,000.00
Accounts receivable 75,000.00
Catering supplies inventory 15,000.00
Catering utensils and equipment 110,000.00
Allowance for doubtful accounts 7,500.00
Account payable 8,000.00
Anne, Capital 209,500.00
TOTAL 225,000.00 225,000.00

Cash 104,750.00
Mary, Capital 104,750.00
 AM Catering Services
Statement of Financial Position
April 2, 2018
Notes
ASSETS
Current Assets
Cash ₱ 129,750.00
Trade and other receivables 1 67,500.00
Catering supplies inventory 15,000.00 ₱ 212,250.00
Non-current assets
Catering utensils and equipment 110,000.00
Total Assets ₱ 322,250.00

LIABILITIES AND PARTNERS' EQUITY

Current Liabilities
Accounts payable 8,000.00
Partners' Equity
Anne, Capital 209,500.00
Mary, Capital 104,750.00 314,250.00
Total Liabilities and Partners' equity ₱ 322,250.00
Note 1: Trade and other receivables
Accounts receivables ₱ 75,000.00
Allowance for doubtful accounts (7,500.00)
Net realizable value ₱ 67,500.00