Gathered Information

1 Date of Formation January 1, 2021

2 Original Capital Balances TAC Angel
Ratio 4
₱2,000,000.0
3 Profit Ratio Ratio 3
4 Loss Ratio Ratio 6
5 Reported NI (2021)
6 Withdrawals ₱500,000.0
7 Reported NL (2022)
8 Withdrawals

Requirement:
What is the capital Balance of BEA on Decemeber 31, 2022?

STATEMENT OF OWNER'S EQUITY

Angel
Initial Investment ₱2,000,000.0
Additional Capital 0
SINI/L, 2021
Witdrawal
Ending, 2021 ₱ 2,000,000.00

Beginning Cap, 2022

Additional Capital
SINI/L, 2021
Witdrawal
Ending, 2022 ₱ -
 Bea Colleen TOTAL
5 1 10
₱2,500,000.00 ₱500,000.00 ₱5,000,000.00
2 5 10
1 3 10
₱2,000,000.00
₱300,000.0
₱ 1,000,000.00
₱ 200,000.00 ₱ 400,000.00

Sharing in Net Income

Bea Colleen TOTAL

₱2,500,000.0 ₱500,000.0 ₱5,000,000.0 Net Income, 2021
0 0 0 Distribution:
₱ 400,000.00
₱ 300,000.00 Net Loss, 2022
₱ 2,600,000.00 ₱ 500,000.00 ₱ 5,000,000.00 Distribution:

₱ 2,600,000.00
₱ -
-₱ 100,000.00
₱ 200,000.00
₱ 2,300,000.00 ₱ - ₱ -
Sharing in Net Income

Angel Bea Colleen TOTAL

₱ 2,000,000.00
₱ 600,000.00 ₱ 400,000.00 ₱ 1,000,000.00 ₱ 2,000,000.00

₱ 1,000,000.00
₱ 600,000.00 ₱ 100,000.00 ₱ 300,000.00 ₱ 1,000,000.00
Gathered Information
1 Date of Formation January 1, 2021
2 Cap Contribution Ratio

3 Profit/Loss Agreement
20% interest based on capital contribution
30,000 Mos Sal to Kobe
50,000 Mos Sal to Michael
Remainder shall be distributed on the basis of CC ratio
4 Withdrawals
5 Lebron's Dec 31 Capital is 6,500,000

Requirement:
What is the capital Balance of Kobe on Dec 31, 2021

Statement of Owner's Equity

Beginning Capital
Aditional Investment
SINI/L
Withdrawal
Ending Capital
Kobe Lebron Michael Total
20% 50% 30% 100%
₱ 2,000,000.00 ₱ 5,000,000.00 ₱ 3,000,000.00 ₱ 10,000,000.00

₱ 500,000.00 ₱ 1,000,000.00

Kobe Lebron Michael Total

₱ 2,000,000.00 ₱ 5,000,000.00 ₱ 3,000,000.00 ₱ 10,000,000.00 Net Income
₱ - ₱ - ₱ - ₱ - Distribution:
₱ 1,360,000.00 ₱ 2,500,000.00 ₱ 2,100,000.00 ₱ 5,960,000.00 Interest (20%)
₱ 500,000.00 ₱ 1,000,000.00 ₱ 1,500,000.00 Salaries
₱ 2,860,000.00 ₱ 6,500,000.00 ₱ 5,100,000.00 ₱ 14,460,000.00 Remainder
Total Sharing
Sharing of Net Income
Kobe Lebron Michael Total

₱ 400,000.00 ₱ 1,000,000.00 ₱ 600,000.00 ₱ 2,000,000.00

₱ 360,000.00 ₱ - ₱ 600,000.00 ₱ 960,000.00
₱ 600,000.00 ₱ 1,500,000.00 ₱ 900,000.00 ₱ 3,000,000.00
₱ 1,360,000.00 ₱ 2,500,000.00 ₱ 2,100,000.00 ₱ 5,960,000.00
Gathered Information
1 Date of Formation January 1, 2020
2 Profit Agreement
10% interest based on average capital balance
50000 quarterly sal of Klay
100000 quarterly sal of Steph
Remainder shall be distributed (3:2)
3 Capital Balances Transactions
January 1, 2020 Investment
March 31, 2020 Additional Investment
July 1, 2022 Withdrawal
September 30, 2022 Withdrawal
October 1, 2022 Additional Investment
December 31, 2022 Ending Balance
4 Reported Net Income ₱ 1,000,000.00

Requirement
What is the capital Balance of Klay on Dec 31, 2020

Statement of Owners' Equity

Klay
Capital Balance before NI ₱ 1,500,000.00
SINI/L ₱ 451,500.00
Ending Capital ₱ 1,951,500.00
 KLAY Unchanged Portion Total STEPH
₱ 1,000,000.00 1 ₱ 1,000,000.00 ₱ 500,000.00
0.75 ₱ - ₱ 100,000.00
-₱ 200,000.00 0.5 -₱ 100,000.00
0.25 ₱ - -₱ 200,000.00
₱ 700,000.00 0.25 ₱ 175,000.00
₱ 1,500,000.00 ₱ 1,075,000.00 ₱ 400,000.00

Steph
₱ 400,000.00 Net Income
Distribution:
₱ 400,000.00 Interest 10% based on Average cap bal
Salaries
Remainder
Total Sharings
Unchanged Portion Total
1 ₱ 500,000.00
0.75 ₱ 75,000.00
0.5 ₱ -
0.25 -₱ 50,000.00
0.25 ₱ -
₱ 525,000.00

Sharing of Net Income

Klay Steph Total
₱ 1,000,000.00

₱ 107,500.00 ₱ 52,500.00 ₱ 160,000.00

₱ 200,000.00 ₱ 400,000.00 ₱ 600,000.00
₱ 144,000.00 ₱ 96,000.00 ₱ 240,000.00
₱ 451,500.00 ₱ 548,500.00 ₱ 1,000,000.00
Gathered Information
1 Date of Formation July 1, 2020
2 Initial Investment
3 Drumond Appointed as Managing Partner
4 Sharing Agreement
30% interest based on original capital
20000 mos sal to Drumond
10000 mos sal to Jordan
bonus equivalent to 20% of NI after salaries, interest and Bonus
Remainder shall be distributed at 3:2
5 Reported Net Income

Requirement
What is the share in NI of Drumond for the year ended dec 31, 2020?

Net Income
Distribution:
Interest
Salaries
Bonus
Remainder
Total SINI
 Drumond Jordan Total
₱ 1,000,000.00 ₱ 2,000,000.00 ₱ 3,000,000.00

₱ 750,000.00

Sharing of Net Income

Drumond Jordan Total
₱ 750,000.00
Bonus=20%NI-(Interest+Salaries+Bonus)
₱ 150,000.00 ₱ 300,000.00 ₱ 450,000.00 NI
₱ 120,000.00 ₱ 60,000.00 ₱ 180,000.00 ₱ 120,000.00 0.2 ₱ 750,000.00
₱ 20,000.00 ₱ - ₱ 20,000.00 ₱ 100,000.00 ₱ 120,000.00
₱ 60,000.00 ₱ 40,000.00 ₱ 100,000.00
₱ 350,000.00 ₱ 400,000.00 ₱ 750,000.00
(Interest+Salaries+Bonus)
Interest Salaries Bonus
₱ 450,000.00 ₱ 180,000.00
₱ 24,000.00
₱ 20,000.00
Gathered Information
1 Date of Formation July 1, 2020
2 Initial Investment
3 Drumond Appointed as Managing Partner
4 Sharing Agreement
30% interest based on original capital
20000 mos sal to Drumond
10000 mos sal to Jordan
bonus equivalent to 20% of NI after salaries, interest and before Bonus
Remainder shall be distributed at 3:2
5 Reported Net Income

Requirement
What is the share in NI of Drumond for the year ended dec 31, 2020?

Net Income
Distribution:
Interest
Salaries
Bonus
Remainder
Total SINI
 Drumond Jordan Total
₱ 1,000,000.00 ₱ 2,000,000.00 ₱ 3,000,000.00

₱ 750,000.00

Sharing of Net Income

Drumond Jordan Total
₱ 750,000.00

₱ 150,000.00 ₱ 300,000.00 ₱ 450,000.00

₱ 120,000.00 ₱ 60,000.00 ₱ 180,000.00 ₱ 120,000.00
₱ 24,000.00 ₱ - ₱ 24,000.00 ₱ 96,000.00
₱ 57,600.00 ₱ 38,400.00 ₱ 96,000.00
₱ 351,600.00 ₱ 398,400.00 ₱ 750,000.00
Gathered Information
1 Profit Sharing Agreement
Sal (Samson):90000
Sal (Delilah):135000
Bonus (Samson) :10% of NI after Salaries
Interest (Samson): 10% of 60000
Interest (Delilah): 10% of 105000
Remaider (Samson) 1/3
Remaider (Delilah) remaining of 1/3
2 Reported NI ₱ 66,000.00

Requirement

How much share will go to Samson considering

NI is 66,000 and Distribution is based on ranked
of Priority staring to Salaries

Sharing Of Net Income

Net Income
Distribution:
Salaries
Interest
Bonus
Share of Deficiency
Total SINI
Sharing Of Net Income
Samson Delilah Total
₱ 66,000.00

₱ 90,000.00 ₱ 135,000.00 ₱ 225,000.00 ₱ 175,500.00 36%

₱ 6,000.00 ₱ 10,500.00 ₱ 16,500.00 ₱ 191,400.00 64%
₱ 15,900.00 ₱ 15,900.00
₱ 68,904.00 ₱ 112,320.00 ₱ 181,224.00
₱ 21,096.00 ₱ 22,680.00 ₱ 43,776.00