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Summary FAC1602 Assessment 2 template $7.55   Add to cart
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  5. FAC1602 - Elementary Financial Accounting And Reporting (FAC1602)

Summary

Summary FAC1602 Assessment 2 template
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  • Course
  • FAC1602 - Elementary Financial Accounting And Reporting (FAC1602)
  • Institution
  • University Of South Africa (Unisa)

This is an excel template with formulas for changes in ownership structure of partnerships. You can fill in the values given in exercises or exam questions, and formulas will feed through to the relevant sections of accounts that are affected. There are calculations for goodwill, ratios of partners...

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Document information

  • April 16, 2023
  • 27
  • 2022/2023
  • Summary

Subjects

  • fac1602
  • fac1601
  • partnerships
  • partnership ratios
  • unit 4
  • changes in partnerships
  • valuation account
  • goodwill
  • transferral account
  • statement of fin
  • excel template with formulas
  • formation of new partnership

Written for

  • University of South Africa (Unisa)
  • FAC1602 - Elementary Financial Accounting And Reporting (FAC1602)
All documents for this subject (98)

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Content preview

Instructions
1. Make a copy of this template and keep it as a backup
2. Only fill in values in the white blocks.
3. Grey cells contain formulas
4. Red cells contain instructions
5. Green Cells contain the resulting ratios.
6. These examples are based on Examples given in the text book




Scenario A
Example 3.3 page 111



Calculation of a new profit-sharing ratio where the previous partners
Fill in the existing ratios previous profit-sharing ratio, a profit share to a new partner

Old ratio
Partner 1 2
Partner 2 3
New Partner Ratio
Denominators of old
partnership 5

Fill in new Parteners Ratio
New partner Ratio
Fill in 1 in Numerator
Fill in 5 in Denominator Numerator: 1
Denominator: 3
if the new partners ratio is 1/5




Scenario B
Example 3.4 page 112

Calculation of a new profit-sharing ratio where the previous partners
Fill in the existing ratios partner

Old ration
Partner 1 2
Fill in the ratio at which
shares will be relinquished. If
it is equal, fill in 1 for both
partners

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