The Bees Partnership has the follwing Capital Balance Capital Balances P/L ratio Blossoms 150,000.00 1/3 Bubbles 300,000.00 1/3 Buttercup 180,000.00 1/3 630,000.00 Bella is to be admitted in the partnership REQ Give the entry to record the admission of Bella with the following cases. Show computations below the entry 1 Bella is to purchase 40% interest from the partnership and is to pay P300,000. Revaluation of is to be recorded. 2 Bella is to purchase 1/4 from each of the partners and is to pay them a total of P157,000 3 Bella is to invest P360,000 for a 35% interest in the partnership using bonus method 4 Bella is to invest P345,000 in the partnership and will give the partners total bonus of P52,500. 5 Bella is to invest P400,000 for a 40% interest in the new partnership. Revaluation of asset method is to be used. 6 Bella is to invest P250,000 for a 40% interest in the new partnership with total agreed capital of P800,000 7 Bella is to invest P500,000 for a 50% interest in the new partnership for a capital credit of the same amount. 8 Bella is to invest sufficient amount to have a 1/5 interest in the partnership 9 Bella is to invest P180,000 for a 15% interest in the partnership, Bella is to give a bonus of P55,000 to the old partners. 10 The partnership is to transfer 25% interest to Bella. Revaluation of Assets is to be recorded first before Bella is to be admitted The Bees Partnership has the follwing Capital Balance Capital Balances P/L ratio Blossoms 150,000.00 1/3 Bubbles 300,000.00 1/3 Buttercup 180,000.00 1/3 630,000.00 Bella is to be admitted in the partnership REQ Give the entry to record the admission of Bella with the following cases. Show computations below the entry 1 Bella is to purchase 40% interest from the partnership and is to pay P300,000. Revaluation of is to be recorded. 2 Bella is to purchase 1/4 from each of the partners and is to pay them a total of P157,000 3 Bella is to invest P360,000 for a 35% interest in the partnership using bonus method 4 Bella is to invest P345,000 in the partnership and will give the partners total bonus of P52,500. 5 Bella is to invest P400,000 for a 40% interest in the new partnership. Revaluation of asset method is to be used. 6 Bella is to invest P250,000 for a 40% interest in the new partnership with total agreed capital of P800,000 7 Bella is to invest P500,000 for a 50% interest in the new partnership for a capital credit of the same amount. 8 Bella is to invest sufficient amount to have a 1/5 interest in the partnership 9 Bella is to invest P180,000 for a 15% interest in the partnership, Bella is to give a bonus of P55,000 to the old partners. 10 The partnership is to transfer 25% interest to Bella. Revaluation of Assets is to be recorded first before Bella is to be admitted

The Bees Partnership has the follwing Capital Balance Capital Balances P/L ratio Blossoms 150,000.00 1/3 Bubbles 300,000.00 1/3 Buttercup 180,000.00 1/3 630,000.00 Bella is to be admitted in the partnership REQ Give the entry to record the admission of Bella with the following cases. Show computations below the entry 1 Bella is to purchase 40% interest from the partnership and is to pay P300,000. Revaluation of is to be recorded. 2 Bella is to purchase 1/4 from each of the partners and is to pay them a total of P157,000 3 Bella is to invest P360,000 for a 35% interest in the partnership using bonus method 4 Bella is to invest P345,000 in the partnership and will give the partners total bonus of P52,500. 5 Bella is to invest P400,000 for a 40% interest in the new partnership. Revaluation of asset method is to be used. 6 Bella is to invest P250,000 for a 40% interest in the new partnership with total agreed capital of P800,000 7 Bella is to invest P500,000 for a 50% interest in the new partnership for a capital credit of the same amount. 8 Bella is to invest sufficient amount to have a 1/5 interest in the partnership 9 Bella is to invest P180,000 for a 15% interest in the partnership, Bella is to give a bonus of P55,000 to the old partners. 10 The partnership is to transfer 25% interest to Bella. Revaluation of Assets is to be recorded first before Bella is to be admitted The Bees Partnership has the follwing Capital Balance Capital Balances P/L ratio Blossoms 150,000.00 1/3 Bubbles 300,000.00 1/3 Buttercup 180,000.00 1/3 630,000.00 Bella is to be admitted in the partnership REQ Give the entry to record the admission of Bella with the following cases. Show computations below the entry 1 Bella is to purchase 40% interest from the partnership and is to pay P300,000. Revaluation of is to be recorded. 2 Bella is to purchase 1/4 from each of the partners and is to pay them a total of P157,000 3 Bella is to invest P360,000 for a 35% interest in the partnership using bonus method 4 Bella is to invest P345,000 in the partnership and will give the partners total bonus of P52,500. 5 Bella is to invest P400,000 for a 40% interest in the new partnership. Revaluation of asset method is to be used. 6 Bella is to invest P250,000 for a 40% interest in the new partnership with total agreed capital of P800,000 7 Bella is to invest P500,000 for a 50% interest in the new partnership for a capital credit of the same amount. 8 Bella is to invest sufficient amount to have a 1/5 interest in the partnership 9 Bella is to invest P180,000 for a 15% interest in the partnership, Bella is to give a bonus of P55,000 to the old partners. 10 The partnership is to transfer 25% interest to Bella. Revaluation of Assets is to be recorded first before Bella is to be admitted

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter15: Partnership Accounting

Section: Chapter Questions

Problem 3EA: The partnership of Tasha and Bill shares profits and losses in a 50:50 ratio, and the partners have...

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