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    Forum3 Akl

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    Fransisca
    The second problem provides additional details needed to calculate cash distributions for the

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    Forum3 Akl

    Uploaded by

    Fransisca
    788 views2 pages
    The second problem provides additional details needed to calculate cash distributions for the

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    AKUNTANSI KEUANGAN LANJUTAN 1

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    FORUM3 AKL

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    The second problem provides additional details needed to calculate cash distributions for the

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    788 views2 pages

    Forum3 Akl

    Uploaded by

    Fransisca
    The second problem provides additional details needed to calculate cash distributions for the

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    FRANSISCA IRKANIA PRIMADONA - 43218120093

    FORUM PERTEMUAN 3-Likuidasi Persekutuan

    SOAL 1

    The partnership of Adrian, Robert and Toby is in process of liquidation.


    The trial balance of the partnership, immediately before the liquidation process, is as follows :
    Debit Credit
    Cash $100,000
    Land $250,000
    Loan to Ardian $20,000
    Ardian Capital (1/3) $100,000
    Robert Capital (1/3) $260,000
    Toby Capital (1/3) $10,000
    The land was immediately sold for $19,000.

    REQUIRED :
    a. Calculate cash distribution to each partner, if the partner with debit capital balance was solven
    b. Calculate cash distribution to each partner, if the partner with debit capital was insolvent

    Aset Capital
    Loan
    Cash Land 1/3 Andrian 1/3 Robert 1/3 Toby
    Andrian

    $ 100.000 $ 250.000 $ 20.000 $ 100.000 $ 260.000 $ 10.000

    offset Andrian Loan -20,000 -20,000


    Land :
    Sold 19,000 -19,000
    Loss on sale land -231,000 -77,000 -77,000 -77,000

    Balance 119,000 - - 3,000 183,000 -67,000

    Loss on Toby 67,000 67,000

    Balance 186,000 - - 3,000 183,000 -

    Cash distribution 186,000 3,000 183,000

    Final Balance - - - - - -

    Aset Capital
    Loan
    Cash Land 1/3 Andrian 1/3 Robert 1/3 Toby
    Andrian
    offset Andrian Loan Land : $ 100.000 $ 250.000 $ 20.000 $ 100.000 $ 260.000 $ 10.000
    Sold -20,000 -20,000
    Loss on sale land
    19,000 -19,000
    -231,000 -77,000 -77,000 -77,000

    Balance 119,000 - - 3,000 183,000 -67,000

    Loss on Toby - -33,500 -33,500 67,000

    Balance 119,000 - - -30,500 149,500 -

    Loss on Andrian 30,500 -30,500


    Balance 119,000 - - - 119,000 -

    Cash Distribution 119,000 119,000

    Final Balance - - - - - -

    *kerugian dibagi 2 (67.000 / 2 = 33.500)

    SOAL 2
    Fed, Flo and Wil announced the liquidation of their partnership beginning on January 1, 2011. Profits and losses are divided

    30 percent to Fed, 20 percent to Flo and 50 percent to Wil. Balance sheet items are summarized as follows :
    Cash $45,000 Accounts payable $20,000
    Accounts Receivable-net 25000 Fed Capital (30%) 75000
    Inventories 25000 Flo Capital (20%) 30000
    Plant Assets-net 80000 Wil Capital (50%) 60000
    Flo loan 10000
    185000 185000
    REQUIRED :
    Prepare a cash distribution plan as of January 1, 2011, for the Fed, Flo and Wil partnership

    Loan (to) /
    Description Partner's Capital Equity Ratio Loss Absorption Ranking
    From Partners
    Fed $ 75.000 $ 75.000 30% $ 250.000 3
    Flo -10,000 $ 30.000 $ 20.000 20% $ 100.000 1
    Wi $ 60.000 $ 60.000 50% $ 120.000 2

    Schedule of Assumed Loss Absorption


    Description Fe Flo Wil TOTAL
    Ratio 30% 20% 50%

    Loan (To) / From Partners -10,000


    Partner's Capital $ 75.000 $ 30.000 $ 60.000 $ 165.000
    Partner's Equity 75,000 20,000 60,000 155,000
    Losses To Absorb Flo
    -30,000 -20,000 -50,000 -100,000
    ($20,000 + 20%)
    45,000 - 10,000 55,000
    Losses To Absorb Wi
    -6,000 -10,000 16,000
    ($10,000 + 5/8)
    39,000 - - 39,000

    Cash Distribution Schedule


    Priorit
    Description Fe Flo Wi
    Crediors
    First $20,000 100%
    Second $39,000 100%
    Third $16,000 3/8 5/8
    Remainder 30% 20% 50%

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