t

f
f
t
f
f
t
t
f
t
 JJJ Partnership
Income Statement
for the year ended December 31, 2011
Sales 800,000.00
Merchandise Inventory, Dec 31 26,500.00
Purchase Discount 8,000.00
Merchandise Inventory, Jan1 50,000.00
Purchases 300,000.00
Freight-in 7,500.00
Sales Returns and Allowances 4,500.00
Sales Discount 12,000.00 460,500.00

Expenses:
Rent Expense 10,000.00
Salaries and Wages 90,000.00
Supplies Expense 9,500.00
Taces ad Licenses Expense 15,000.00
Utilities Expense 60,000.00 184,500.00
Net income 276,000.00

Income Summary 92,000.00

James, Capital 92,000.00

Income Summary 92,000.00

John, Capital 92,000.00

Income Summary 92,000.00

Jude, Capital 92,000.00
Income Summary 95,600.00 Maria Martha
Maria, Capital 95,600.00 Interest 45,600.00 61,200.00
Salaries 60,000.00 80,000.00
Income Summary 121,200.00 Balance (10,000.00) (20,000.00)
Martha, Capital 121,200.00 95,600.00 121,200.00
106,800.00
140,000.00
(30,000.00)
216,800.00
Income Summary 53,260.00 Margaret
Margaret, Capital 53,260.00 Interest 12,500.00
Salaries
Income Summary 100,570.00 Remainder 40,760.00
Elizabeth, Capital 100,570.00 53,260.00

Income Summary 96,170.00

Cecilia, Capital 96,170.00
Elizabeth Cecilia
10,000.00 5,600.00 28,100.00
60,000.00 60,000.00 120,000.00
30,570.00 30,570.00 101,900.00
100,570.00 96,170.00 250,000.00
 Gem Romy
Interest 4,000.00 3,500.00 7,500.00
Remainder 11,850.00 11,850.00 23,700.00
15,850.00 15,350.00 31,200.00

Income Summary 15,850.00

Gem, Capital 15,850.00

Income Summary 15,350.00

Romy, Capital 15,350.00
 Elsie Nim Mavic
Allowance 65,000.00 50,000.00 40,000.00 155,000.00
Bonus 62,500.00 62,500.00
Remainder 25,000.00 25,000.00 12,500.00 62,500.00
90,000.00 75,000.00 115,000.00 280,000.00

Margaret, Capital 350,000.00

Add: Additional Investments 150,000.00
Permanents Withdrawals 50,000.00
Margaret's Ending Capital 450,000.00
Multiply: Interest rate 0.20
Interest Received 90,000.00

Christian Michael Angelo

Interest 7,500.00 4,500.00 3,000.00 15,000.00
Salaries 45,000.00 31,500.00 18,000.00 94,500.00
Remainder (14,750.00) (8,850.00) (5,900.00) (29,500.00)
37,750.00 27,150.00 15,100.00 80,000.00

Floyd Greg
Salary Allowance 24,000.00 15,000.00 39,000.00
Interest 18,000.00 12,000.00 30,000.00
Remainder 4,500.00 3,000.00 7,500.00
46,500.00 30,000.00 76,500.00
*work backwards lang yan =))
Carl, Capital 95,000.00
Dana, Capital 95,000.00

April, Capital 132,000.00

Dana, capital 132,000.00

April, Capital 176,000.00

Bert, Capital 224,000.00
Dana, Capital 400,000.00

April, Capital 88,000.00

Bert, Capital 168,000.00
Carl, Capital 190,000.00
Dana, Capital 446,000.00

April, Capital 88,000.00

Bert, Capital 112,000.00
Carl, Capital 76,000.00
Dana, Capital 276,000.00
Cash 100,000.00 TCC
Gene, Capital 100,000.00 40 Evita 280,000.00
60 Farida 220,000.00
Cash 160,000.00 Gene 190,000.00
Gene, Capital 132,000.00 690,000.00
Evita, Capital 11,200.00
Farida, Capital 16,800.00

Cash 190,000.00
Evita, Capital 16,000.00
Farida, Capital 24,000.00 TCC
Gene, Capital 230,000.00 0.2 Hanna 250,000.00
0.3 Isabel 300,000.00
0.5 Jay 150,000.00
Cash 200,000.00 Kaila 300,000.00
Kaila, Capital 135,000.00 1,000,000.00
Hanna, Capital 13,000.00
Isabel, Capital 19,500.00
Jay, Capital 32,500.00

Cash 150,000.00
Hanna, Capital 4,000.00
Isabel, Capital 6,000.00
Jay, Capital 10,000.00
Kaila, Capital 170,000.00

Cash 200,000.00
Kaila, Capital 162,000.00
Hanna, Capital 7,600.00
Isabel, Capital 11,400.00
Jay, Capitla 19,000.00

Cash 300,000.00
Hanna, Capital 10,000.00
Isabel, Capital 15,000.00
Jay, Capital 25,000.00
Kaila, Capital 350,000.00
Bonus TAC
(16,000.00) 264,000.00
(24,000.00) 196,000.00
40,000.00 230,000.00
690,000.00

Bonus TAC
(10,000.00) 240,000.00
(15,000.00) 285,000.00
(25,000.00) 125,000.00
50,000.00 350,000.00
1,000,000.00
 Nadia Oscar
Capital Balances 250,000.00 100,000.00
Loss on Revaluation 24,000.00 16,000.00 40,000.00
Adjusted Capital Balances 226,000.00 84,000.00

Amount invested by patricia 150,000.00

Capital Credit of Patricia 168,000.00

Bonus to Patricia 18,000.00 560000

Patricia, Capital 168,000.00

Nadia, Capital 215,200.00
Oscar, Capital 76,800.00

Patria's interest 30%

Nadia's interest 42%
Oscar's interest 28%
100%
Pam, Capital 240,000.00
Rixy, Capital 240,000.00

Pam, Capital 240,000.00

Olga, Capital 240,000.00

Pam, Capital 240,000.00

Remy, Capital 60,000.00
Rosie, Capital 180,000.00

Pam, Capital 240,000.00

Olga, Capital 96,000.00
Quinee, Capital 144,000.00

Pam, Capital 240,000.00

Olga, Capital 16,000.00
Quinee, Capital 24,000.00
Cash 200,000.00
Notes Payable 80,000.00

Pam, Capital 240,000.00

Land 150,000.00
Inventories 50,000.00
Olga, Capital 16,000.00
Quinee, Capital 24,000.00
 Sandra Terry Vina
Capital Balances 200,000.00 150,000.00 100,000.00
Revaluation 62,200.00 46,650.00 46,650.00 155,500.00
Adjusted Capital Balances 262,200.00 196,650.00 146,650.00

Sandra, Capital 262,200.00

Less: Cash and Note 290,500.00
Bonus to Sandra 28,300.00

Terry, Capital 196,650.00

Less: Bonus to Sandra 14,150.00
Terry, Capital 182,500.00

Vina, Capital 146,650.00

Less: Bonus to Sandra 14,150.00
Vina, Capital 132,500.00

Terry, Capital 182,500.00

Vina, Capital 132,500.00
Total Partnership Capitalization 315,000.00
Bernie, Capital 180,000.00
Divide: purchase of interest 0.80
Bernie, Capital 144,000.00

Total Capitalization 500,000.00

Divide: New interest 0.80
Total Required Capitalization 625,000.00
Multiply: Krislyn's interest 0.20
Krislyn's investment 125,000.00

Total Capitalization 700,000.00

Divide: New Interest 3/4
Total Required Capitalization 933,333.33
Multiply: Gelyn's interest 1/4
Gelyn, Capital 233,333.33

Purchase of interest (Daniel) 110,000.00

Purchase of interest (Edwin) 125,000.00
Purchase of Interest (Farida) 45,000.00
Girlie, Capital 280,000.00

TCC Bonus TAC

Hilda 122,500.00 5,250.00 127,750.00
Imee 105,000.00 3,500.00 108,500.00
Jesse 87,500.00 (8,750.00) 78,750.00
315,000.00 315,000.00

Joel Jack Jill

Capital Balances 340,000.00 220,000.00 260,000.00
Net Income 116,000.00 69,600.00 46,400.00 232,000.00
Drawing 20,250.00
Collection 80,500.00
Balances 456,000.00 289,600.00 366,650.00
Cash payment 450,000.00
Balances 456,000.00 289,600.00 (83,350.00)
Application of bonus (52,093.75) (31,256.25) 83,350.00
Capital Balances 403,906.25 258,343.75 -