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  • Case studies and capitalization calculations

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    krishipon
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    The document contains accounting information for multiple cases and businesses. It includes entries for assets, liabilities, capital, and owner investments for setting up initial accounts and closing entries. Some highlights include Marie investing in a business (Case A), capital contributions and required investments from owners Vic, Romy, Francis, and Pio for their percentages of different businesses (Case B), and opening and closing entries for businesses owned by Anne, Michael, Rafael, Ignatius, Dominic, Therese, and Catherine.

    Original Description:

    Answers to the complete unit 1 of the workbook

    Original Title

    Acctba2 Unit 1

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    © © All Rights Reserved

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    The document contains accounting information for multiple cases and businesses. It includes entries for assets, liabilities, capital, and owner investments for setting up initial accounts and closing entries. Some highlights include Marie investing in a business (Case A), capital contributions and required investments from owners Vic, Romy, Francis, and Pio for their percentages of different businesses (Case B), and opening and closing entries for businesses owned by Anne, Michael, Rafael, Ignatius, Dominic, Therese, and Catherine.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    202 views14 pages

    Case studies and capitalization calculations

    Uploaded by

    krishipon
    The document contains accounting information for multiple cases and businesses. It includes entries for assets, liabilities, capital, and owner investments for setting up initial accounts and closing entries. Some highlights include Marie investing in a business (Case A), capital contributions and required investments from owners Vic, Romy, Francis, and Pio for their percentages of different businesses (Case B), and opening and closing entries for businesses owned by Anne, Michael, Rafael, Ignatius, Dominic, Therese, and Catherine.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 14

    Case A

    Cash
    Office Equipment

    500,000.00
    45,000.00
    Rose, Capital

    Furnitures and Fixtures

    545,000.00
    100,000.00

    Guada, Capital

    100,000.00

    Memo entry: Marie invested management expertise to the business


    Case B
    Building
    Office Equipment

    1,500,000.00
    30,000.00
    Mortgage Payable
    Romy, Capital

    Office Equipment
    Furnitures and Fixtures

    300,000.00
    1,230,000.00
    220,000.00
    50,000.00

    Vic, Capital
    Romy's Capital
    Divide: Romy's Interest
    Total Required Capitalzation
    Multiply: Vic' Interest
    Vic's Required Capital
    Less: Vic, Capital
    Vic's Cash investment
    Cash

    270,000.00
    1,230,000.00
    0.60
    2,050,000.00
    0.40
    820,000.00
    270,000.00
    550,000.00
    550,000.00

    Vic, Capital

    550,000.00

    Francis, Capital

    2,800.00
    Allowance for Doubtful Accounts

    Landscaping Supplies

    10,000.00
    Francis, Capital

    Francis, Capital

    100,000.00
    Accumulated Depreciation- Furniture and Equipment

    Francis, Capital
    Divide: Francis' Interest
    Total Required Capitalization
    Multiply: Pio's interest
    Pio's Cash investment

    1,634,200.00
    0.50
    3,268,400.00
    0.50
    1,634,200.00

    Cash

    1,634,200.00
    Pio, Capital

    2,800.00

    10,000.00

    100,000.00

    1,634,200.00

    Revaluation
    Anne, Capital

    2,500.00
    Allowance for Doubful Accounts

    Catering Supplies Inventory

    5,000.00
    Anne, Capital

    Anne, Capital

    3,300.00
    Accumulated Depreciation

    Closing Entries
    Allowance for Doubtful Accounts
    Accumulated Depreciation
    Accounts Payable
    Anne, Capital

    7,500.00
    10,000.00
    8,000.00
    211,500.00
    Cash
    Accounts Receivable
    Cartering Supplies Inventory
    Catering Utensils and Equipment

    Opening Entries
    Cash
    Accounts Receivable
    Cartering Supplies Inventory
    Catering Utensils and Equipment

    27,000.00
    75,000.00
    15,000.00
    110,000.00
    Allowance for Doubtful Accounts
    Accounts Payable
    Anne, Capital

    Anne, Capital
    Divide: Anne's Interest
    Total Required Capitalization
    Multiply: Mary's Interest
    Mary's Cash investment

    211,500.00
    0.67
    317,250.00
    0.33
    105,750.00

    Cash

    105,750.00
    Mary, Capital

    2,500.00

    5,000.00

    3,300.00

    27,000.00
    75,000.00
    15,000.00
    120,000.00

    7,500.00
    8,000.00
    211,500.00

    105,750.00

    MICHAEL'S BOOK
    Revaluation
    Michael, Capital
    Allowance for Doubtful Accounts
    Michael, Capital
    Office Supplies Inventory
    Michael, Capital
    Accumulated Depreciation- Office Equipment
    Accumulated Depreciation- Furniture and Fixture
    Michael, Capital
    Closing Entries
    Allowance for Doubtful Accounts
    Accumulated Depreciation- Office Equipment
    Accumulated Depreciation- Furniture and Fixture
    Accounts Payable
    Michael, Capital
    Cash
    Accounts Receivable
    Office Supplies
    Office Equipment
    Furniture and Fixture
    Opening entries
    Cash
    Accounts Receivable
    Office Supplies
    Office Equipment
    Furniture and Fixture
    Allowance for Doubtful Accounts
    Accounts Payable
    Michael, Capital

    RAFAEL'S BOOKS
    Revaluation
    Rafael, Capital
    Allowance for Doubtful Accounts
    Rafael, Capital
    Office Supplies

    Accumulated Depreciation- Equipment


    Rafael, Capital

    Closing Entries
    Allowance for Doubtful Accounts
    Accumulated Depreication- Office Equipment
    Accumulated Depreication- Furniture and Fixture
    Accounts Payable
    Rafael, Capital
    Cash
    Accounts Receivable
    Office Supplies
    Office Equipment
    Furniture and Fixture
    Opening Entries
    Cash
    Accounts Receivable
    Office Supplies
    Office Equipment
    Furniture and Fixture
    Allowance for Doubtful Accounts
    Accounts Payable
    Rafael, Capital

    2,000.00
    2,000.00
    400.00
    400.00
    2,000.00

    on- Office Equipment

    2,000.00
    1,000.00
    1,000.00

    2,000.00
    9,500.00
    5,000.00
    15,000.00
    162,500.00
    50,000.00
    20,000.00
    4,000.00
    80,000.00
    40,000.00

    50,000.00
    20,000.00
    4,000.00
    70,500.00
    35,000.00
    2,000.00
    15,000.00
    162,500.00

    1,800.00
    1,800.00
    500.00
    500.00

    1,500.00
    1,500.00

    1,800.00
    7,500.00
    3,000.00
    10,000.00
    118,700.00
    30,000.00
    18,000.00
    5,000.00
    60,000.00
    28,000.00

    30,000.00
    18,000.00
    5,000.00
    52,500.00
    25,000.00
    1,800.00
    10,000.00
    118,700.00

    Ignatius, Capital
    Divide: Ignatius' Interest
    Total Required Capitalization
    Multiply: Dominic's interest
    Dominic's Required Capital
    Less: Dominic's Actual Capital
    Dominic's Cash investment
    Therese, Capital
    Add: Revaluation of Merchandise Inventory
    Prepaid Expenses
    Less: Allowance for Doubtful Accounts
    Interest Expense
    Therese, Capital (Adjusted)
    Divide: Therese's Interest
    Total Required Capitalization
    Multiply: Catherine's Interest
    Catherine's cash investment

    387,000.00
    0.30
    1,290,000.00
    0.70
    903,000.00
    845,000.00
    58,000.00
    105,000.00
    6,000.00
    6,500.00
    1,500.00
    500.00
    115,500.00
    0.30
    385,000.00
    0.70
    269,500.00

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