AA Chapter6

7/25/2019 AA Chapter6

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CHAPTER 6

1. Books of JV

Oct. 1 Cash 105,000

Butch 35,000

Alex 35,000

Roy 35,000

3 Purchases 100,000

Freiht !0,000 Cash 50,000

Accou"ts Paya#le $0,000

% Re"t 15,000Cash 15,000

31 Cash $5,000

&ales $5,000

'o(. ! Re"t 15,000Cash 15,000

!! O)erati" *x)e"ses $,500

Cash $,500

30 Cash 1!5,000&ales 1!5,000

+ec. 1 Re"t 15,000

Cash 15,000

!5 O)erati" *x)e"ses 1!,500 Cash 1!,500

!% Co--issio" 5,000Cash 5,000

30 Cash 150,000&ales 150,000

Ja". ! Accts Paya#le 50,000 Cash 50,000

Butch %,000Purchases %,000

5 &ales 11%,000Purchases ,000

Freiht !0,000

Re"t 5,000 O)erati" *x)e"ses !5,000

Alex 55,333

Roy 55,333

Butch 55,33JV Cash !%5,000

AlexButchRoy

0,333/,330,333

Cash !%5,000

Butch Alex Roy

"(est-e"t i" JV 35,000 35,000 35,000

Cash 35,000 35,000 35,000

ercha"2ise %,000

"(est-e"t " JV %,000

Cash 5,000

Co--issio" "co-e 5,000

!


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"(est-e"t i" JV 55,33 55,333 55,333

"co-e fro- JV 55,33 55,333 55,333

Cash /,33 0,333 0,333

"co-e fro- JV /,33 0,333 0,333

ariki"a Bulaca" Books!. a. JV 500,000 a. JV 500,000JV Cash 500,000 aterials 500,000

Bulaca" 1,000,000

Cash

#. JV *ui)-e"t 300,000 2. ariki"a 300,000 JV Acct Paya#le 150,000 ariki"a 300,000

JV Cash 150,000

c. JV !00,000 4. "(est-e"t i" JV 50,000JV Cash !00,000 "co-e fro- JV 33/,!50

2. aterials 50,000 ariki"a 50,000

JV 50,000 JV 50,000

e. JV 30,000e. JV 30,000 ariki"a 30,000

Accu-ulate2 +e)". 30,000

f. JV Cash %/0,000 f. ariki"a 1,3%0,000 JV 'otes Rec %/0,000 JV 1,3%0,000 JV 1,3%0,000

. JV !5,500 . JV !5,500 JV Accts Pay 150,000 ariki"a !5,500 JV Cash 1$5,500

h. JV !0,000 h. JV !0,000 JV 'otes Rec !0,000 ariki"a !0,000

i. JV Cash $1!,/00 i. ariki"a 5!,/00 JV 'otes Rec %%0,000 JV 5!,/00 JV 5!,/00

4. JV %$,000 4. JV %$,000 JV Cash %$,000 ariki"a %$,000

k. *ui)-e"t !$0,000 k. ariki"a 300,000 Accu- +e)reciatio" 30,000 ariki"a 300,000 JV *ui)--e"t 300,000

JV %!0,300 l. JV %!0,300 "co-e fro- JV 310,150 "co-e fro- JV 310,150 Bulaca" 310,150 ariki"a 310,150

Cash 550,150 Cash /10,150 Bulaca" /10,150 ariki"a /10,150 JV Cash 1,3%0,300

3. Books of Pe)e1. Joi"t Ve"ture 50,000

Cash 50,000

!. Joi"t Ve"ture 15,000Pilar 15,000

3. Accou"ts Recei(a#le !5,000

Pilar 30,000JV 55,000

. Cash !,500

Joi"t Ve"ture 1,100Accou"ts Recei(a#le !5,000

Pilar %00

!5


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Cash 10,000

ilo Co-)a"y $,500

Cash !3$,500

7o )ro(e the euity of ello; fro- the (e"ture9Cr. Bala"ce P!50,000

"co-e fro- J V 5,000

:ith2ra;al of -ercha"2ise

'et "co-e P !0$,500 P !0$,500

&tate-e"t of Retai"e2 *ar"i"s9Retai"e2 *ar"i"s Be P 300,000 P300,000A22 'et "co-e !0$,500 !0$,500

6ess +i(i2e"2s 100,000 100,000Retai"e2 *ar"i"s, *"2 P 0$,500 P0$,500

Fi"a"cial Positio"

Cash

Recei(a#les"(e"tories

Pla"t Assets

"(est-e"t i" Jericho

P %!,500

130,000110,000

%0,000

1%5,000

P 0,000

1%,50013!,000

/!$,000????????

P1,0$,500 P1,15,500

Accou"ts Paya#leOther Paya#les

Ca)ital &tock

Retai"e2 *ar"i"s

7otal 6ia#ilities @ &tockhol2ers *uity

P 1!0,000/0,000

500,000

0$,500

P1,10$,500

P 1$5,000113,000

500,000

0$,500

P1,15,500

MULTIPLE CHOICE:1. 1= J V #ala"ce 0,000

"sol2 -ercha"2ise to 7 !5,000

115,000

6ess Bo"us of 7 15,000'et "co-e 100,000

&hare of 7 at !5 !5,000

A"s;er9 C !5,000= P0,000

!= R &Profit &hare 0,000 35,000A22 Cre2it Bala"ce !0,0006ess +e#it Bala"ce 5,000 ??????

35,000 55,000

A"s;er9 B

!. 1= Joi"t Ve"ture P$0,0006ess "sol2 10,000JV 6oss P%0,000A"s;er9 B

!= C, Ca)ital P0,000&hare i" loss


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A"s;er9 A

5. 7otal recei)ts P15,03,5007otal 2is#urse-e"ts 13,!$,000

'et "co-e P 1,$3$,500Bi"a" P%%,000 x % x 3D1! < 0= 0

P0,000 x % x 3D1! < 1,350= 1,350'et )rofit after #o"us @i"terest


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Joi"t Ve"ture !%,00,000

Joi"t Ve"ture 1,005,000

J V AR 1,005,000

Accts Recei(a#le ,05,000

J V AR ,05,000

3= 7a#le for )rofit 2istri#utio"9

V A C

Bo"us


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