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单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Chapter 11,Accounting for Partnership,合伙企业会计,Admission of a Partner,When the makeup of the partnership changes,the partnership is dissolved.,A new partnership may be immediately formed.,New partner acquires partnership interest by:,Purchasing it from the present partners,or,Investing assets in the partnership.,Purchase of Partnership Interest,A new partner can purchase partnership interest directly from the existing partners.,The cash goes to the partners,not to the partnership.,To become a partner,the new partner must be accepted by the current partners.,Red agrees to sell Blue$10,000 of her partnership interest for$25,000.,Purchase of Partnership Interest,A new partnership agreement must be prepared that identifies the allowances and profit sharing basis.,Investing Assets in a Partnership,The new partner can gain partnership interest by contributing assets to the partnership.,Remember that the new assets will increase the partnerships net assets.,After this entry,both assets and equity will increase.,Greene and Red agree to accept Blue as a partner upon his investment of$30,000 cash in the partnership.,Investing Assets in a Partnership,A new partnership agreement must be prepared that identifies the allowances and profit sharing basis.,Bonus to Old or New Partners,Bonus to Old Partners,When the value of a partners investment is greater than the acquired amounts of equity,the old partners usually require a new partner to pay a bonus when joining.,Net Asset(,yuan,)=OE,360 A capital 180,B capital 180,C intends to acquire one fifth share of the partnership by,Paying 140,yuan,in cash,acquired amounts of equity for c=(360+140)*1/5=100,The value of the investment is 140,Bonus to Old or New Partners,Bonus to Old Partners,When the value of a partners investment is greater than the acquired amounts of equity,the old partners usually require a new partner to pay a bonus when joining.,Net Asset(,yuan,)=OE,500 A capital 200,B capital 200,C capital 100,C intends to acquire one fifth share of the partnership by,Paying 140,yuan,in cash,acquired amounts of equity for c=(360+140)*1/5=100,The value of the investment is 140,Bonus to Old or New Partners,Bonus to New Partners,The partnership may grant a bonus to a new partner if the business is in need of cash or if the new partner has exceptional talents.,C intends to acquire one third share of the partnership by,Paying 120,yuan,in cash,Net Asset(,yuan,)=OE,360 A capital 180,B capital 180,acquired amounts of equity for c=(360+120)*1/3=160,The value of the investment is 120,Bonus to Old or New Partners,Bonus to New Partners,The partnership may grant a bonus to a new partner if the business is in need of cash or if the new partner has exceptional talents.,C intends to acquire one third share of the partnership by,Paying 120,yuan,in cash,Net Asset(,yuan,)=OE,480 A capital 160,B capital 160,C capital 160,acquired amounts of equity for c=(360+120)*1/3=160,The value of the investment is 120,Withdrawal of a Partner,A partner can withdraw in two ways:,The partner can sell his/her partnership interest to another person.,The partnership can distribute cash and/or other assets to the withdrawing partner,.,Bonus to Old or New Partners,Bonus to retiring partner,When the payment to the retiring partner is greater than the this partners equity,the excess will be treated as a bonus to the retiring partner for its share of the goodwill of the business,Net Asset(,yuan,)=OE,600 A capital 300,B capital 150,C capital 150,C intends to withdraw from business,The partnership intends to pay 200,yuan,to C,Bonus to Old or New Partners,Bonus to continuing partner,When the payment to the retiring partner is less than the this partners equity,the deficit will be treated as a bonus to the continuing partner,Net Asset(,yuan,)=OE,600 A capital 300,B capital 150,C capital 150,C intends to withdraw from business,The partnership intends to pay 100,yuan,to C,Liquidation of a Partnership,When a partnership is discontinued,four steps are required:,Non-cash assets are sold for cash and a gain or loss on liquidations is recorded.,Gain or loss on liquidation is allocated to partners using their income-and-loss ratio.,Liabilities are paid or settled.,Any remaining cash is distributed to partners based on their capital balances.,Capital Deficiency,Greene,Red,and Blue agree to discontinue their partnership.They sell all of their assets for a net,loss,of$10,000.Profits and losses are shared as follows:Green,one-half;,Redd,one-fourth;and Blue,one-fourth.,Capital deficiency means that at least one partner has a debit balance in his/her capital account.A partner with a deficit must,if possible,cover the deficit by paying cash into the partnership.,Capital Deficiency,Greene,Red,and Blue agree to discontinue their partnership.They sell all of their assets for a net,loss,of$10,000.Profits and losses are shared as follows:Green,one-half;Red,one-fourth;and Blue,one-fourth.,Capital defi
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