Академический Документы
Профессиональный Документы
Культура Документы
20-21
ANSWER KEY
12. A
130,000 – 25,000 – 60,000 = 45,000 share in
NI. 45,000 / 30% = 150,000
13. C
PROBLEM-SOLVING
90,000 – 75,000 = 15,000 bonus to old
1. B partners ( because TAC = TCC; PAC (new) <
PCC (new) )
14. D
MOCK EXAM (1ST) FOR BA 118.1 – ADVANCED FINANCIAL ACCOUNTING & REPORTING A.Y. 20-21
Average capital of Por = [120,000 x 4/12 + Only the first stipulation will be met, thus:
100,000 x 3/12 + 110,000 x 2/12 + 100,000 x Xerxes = 35,000 x (50/70) = 25,000; Yurnero
3/12] = 108,333 = 35,000 x (20/70) = 10,000
Average capital of Que = [80,000 x 4/12 +
70,000 x 2/12 + 90,000 x 3/12 + 85,000 x 26. D
3/12] = 82,083 Biden = -2,000 – 4,000 – 8,000 + 10,000 +
Share of Por = 240,000 x (108,333 / 190,416) 14,000 = 10,000 net credit
= P136,543 Harris = -4,000 – 2,000 – 10,000 – 7,000 +
Share of Que = 240,000 x (82,083 / 190,416) = 9,000 = 14,000 net debit
P103,457
27. D
15. A Biden = 144,000 + 10,000 = 154,000
Par = 180,000 + (30,000 x 50%) + (40,000 x Harris = 200,000 – 14,000 = 186,000
60%) = 219,000
Cor = 30,000 x 50% + 40,000 x 40% = 31,000 28. A
186,000 / 60% x 40% = 124,000; 154,000 –
16. C (see computations below) 124,000 = (30,000)
18. A 30. D
1,956,000 – 72,000 – 120,000 + 1,800,000 + (720,000 x 4/5) + (12,600 x ¾) – (1,500 x 2 x
480,000 = 4,062,000 2) – (2,000 x 2) = 575,450;
575,450 – [(720,000 x 1/5) + (12,600 x ¼) –
19. C (see computations below) (2,000 x 2)] = 432,300
20. C
Sum of all assets – mortgage = P260,000 31. B
60,000 + 6,000 – 4,000 + [(60,000 – 10,000 +
21. A (see computations below) 30,000 – 30,000) x 20%] = 72,000
32. A
22. D Michelle = 140,000 + (50,000 x 50%) - (4,000
(55,000 + 60,000) / 45% = 255,555; 255,555 – x 5/8) = 162,500
235,000 = 20,555; 20,555 x (45% - 65%) = Kelly = 120,000 + (50,000 x 30%) - (4,000 x
4,111 3/8) = 133,500
SECOND YEAR
Salary 26,000 13,000 39,000
Interest 11,830 8,060 12,610 32,500
Remainder (9,750) (3,900) (5,850) (19,500)
Total 28,080 4,160 19,760 52,000
COMPUTATION
OF BALANCES
Initial balance 143,000 104,000 143,000
Share in loss (11,700) (10,400) (3,900)
Withdrawals (13,000) (13,000) (13,000)
Year 2 Beg. balance 118,300 80,600 126,100
Share in income 28,080 4,160 19,760
Withdrawals (13,000) (13,000) (13,000)
Ending balance 133,380 71,760 132,860
Net income: 33,000 – (5,250 + 16,750 – 4,550) = 15,550 less 6,755 and 105 expenses = 8,690
Pi XV La19 Total
Capital 120,000 70,000 80,000
Withdrawal (24,000) (24,000) (24,000)
Loss (9,600) (6,400) (16,000) (32,000)
Ending 86,400 39,600 40,000
Revaluation (14,400) (9,600) (24,000) (48,000)
72,000 30,000 16,000
C P A Total
Beginning Capital 170,000 255,000 382,500 807,500
Salaries 102,000 81,600 61,200 244,800
Interest 22,100 25,500 35,275 82,875
Remainder of NI 8,500 8,500 8,500 25,500
Investment/Withdrawal 102,000 ________ (119,000) (17,000)
Ending Capital 1,143,675