弗洛伊德·A·比姆斯-高级会计学（第10版）Beams10e_Ch15.pptVIP

Beams, Advanced Accounting 10e, Ch. 15 ? Pearson Education, Inc. publishing as Prentice Hall Objectives (cont.) Value a partners share upon retirement or death. Understand limited liability partnership characteristics. Articles of Partnership Products or services, line of business Partner rights responsibilities Initial investment and value assigned to noncash investments Additional investment conditions Asset withdrawals Profit and loss sharing Dissolution procedures Partnership Reporting Financial reporting should provide for the needs of Partners Creditors of the partnership IRS Initial Investment A partnership is started by Amy and Paul, each investing cash. If they invest other assets, the value of those assets should be agreed upon in advance. Initial Investment with Bonus or Goodwill Partner initial investments, at fair value, will not represent their ownership. Individual talent Business connections Customer base Partners choose method Bonus method Adjustment within the capital accounts Goodwill method Goodwill is recorded on the books Initial Investment with Bonus Total fair value received is split, as desired, between partners Cola invests land and building worth $10 and $40. Crown invests cash and inventory at $7 and $35. Agree to have equal shares: (10 + 40 + 7 + 35) / 2 = $46 each Initial Investment with Goodwill Colas 50%(100) $50 He invests: Land $10 Building $40 $50 Crowns 50%(100) $50 He invests: Cash $7 Inventory $35 $42 Goodwill $8 Initial Entry with Goodwill Sample Partner Closing Entries Statement of Partners Capital Bonus and Salary Allowances Bonus allowances are often based on partnership profits and may be before or after: (a) salary allowances and (b) bonus. If the bonus is after both: Bonus = b% x (NI – Salary Allow – Bonus) Salary allowances are generally pre-determined amounts Interest Allowances and Capital Interest Allowances are generally based