Bab 12 AKUNTANSI UNTUK BENTUK USAHA PARTNERSHIP.ppt

Chapter 12
Partnerships
Accounting, 22st Edition
Warren Reeve Fess
PowerPoint Presentation by Douglas Cloud
Professor Emeritus of Accounting
Pepperdine University
© Copyright 2004 South-Western, a division
of Thomson Learning. All rights reserved.
Task Force Image Gallery clip art included in this
electronic presentation is used with the permission of
NVTech Inc.

1. Menjelaskan Karakteristik perusahaan
Perorangan dan Persekutuan
2. Menjelaskan Struktur statement of
Partnership Equity
3. Memahami Akuntansi Partnership yg
meliputi:
 Forming
 Dividing Income
 Partnership Dissolution
 Liquidating
Objectives
Setelah mempelajari
Bab ini Mahasiswa
diharapkan dapat:

Alternative Forms of Business Entities
Advantages
• Mudah dibentuk
• Biaya Pendiriannya
murah
Disadvantages
• Modal Kecil
• Unlimited
liability/Kewajiban
tak terbatas
Joe’s
Review of Chapter 1
A proprietorship is
owned by one
individual.

A corporation is
organized under
state or federal
statutes as a separate
legal entity.
Advantages
• The ability to obtain large
amounts of resources by
issuing stocks
• Limited liability for the
owners
Disadvantages
• Double taxation
• More complexity
and regulations
J & M, Inc.

J & M, Inc.
A business may organize
as an S Corporation. The
IRS allows income to pass
through the S Corporation
to the individual
stockholder without the
corporation having to pay
tax on the income.

A partnership is an
association of two
or more individuals.
Advantages
• Modal lbh besar
daripada Per
Perorangan.
• Keahlian
Manajemennya lbh
bagus
Joe and Marty’s

Disadvantages
• Limited life
• Unlimited liability
• Co-ownership of
partnership property
• Mutual agency
Joe and Marty’s
A partnership is an
association of two
or more individuals.

A partnership is created
by a contract, known as
the partnership
agreement or articles of
partnership.

A variant of the
regular partnership
is a limited
partnership. This form of partnership
allows partners that are
not involved in the
operations of the
partnership to retain
limited liability.

Limited Liability Corporations
 Combines the advantages of the corporate and
partnership forms.
 Owners are termed “members” rather than
“partners.”
 Members must create an operating agreement.
 LLC may elect to be treated as a partnership for
tax purposes.
Continued

Limited Liability Corporations
 Unless specified in the operating agreement,
LLCs have a limited life.
 Members may elect operating the LLC as a
“member managed” entity.
 LLC provides limited liability for the members.
 LLCs must file “articles of organization” with
state governmental authorities.

Comparison of Alternate
Entity Characteristics
Ease of Formation
Proprietorship Simple
Corporation Complex
Partnership Simple
LLC Moderate

Legal Liability
Proprietorship No limitation
Corporation Limited liability
Partnership No limitation
LLC Limited liability

Limitation on Life of Entity
Proprietorship Yes
Corporation No
Partnership Yes
LLC Yes

Ease of Raising Capital
Proprietorship Difficult
Corporation Easier
Partnership Moderate
LLC Moderate

Equity Reporting for
Alternative Entity Forms
Proprietorships
 Proprietorships use a capital account to
record investments by the owner of the
business.
 Withdrawals by the owner are recorded
in the owner’s drawing account.

Proprietorships
Greene Landscapes
Statement of Owner’s Equity
For the year ended December 31, 2006
Duncan Greene, capital, Dec. 31, 2005 $345,000
Net income $79,000
Less withdrawals 35,000
Increase in owner’s equity 44,000
Duncan Greene, capital, Dec. 31, 2006 $389,000

Corporations
 Investments by stockholders in the
business use capital stock accounts,
such as Common Stock and Preferred
Stock.
 Dividends to owners (stockholders) are
recorded by a debit to Retained
Earnings.

Corporations

Partnerships and Limited Liability Corporations
 Setoran Modal dan Withdrawal dicatat
terpisah antar Partner
 Limited liability corporations are similar
to a partnership except that each owner is
referred to as “member.”

Equity Reporting for Alternative
Entity Forms
Partnerships

Forming a Partnership
Joseph Stevens and Earl Foster agree to combine
their hardware businesses in a partnership. They
agree that the partnership is to assume the
liabilities of the separate businesses.
Apr. 1 Cash 7 200 00
Accounts Receivable 16 300 00
Merchandise Inventory 28 700 00
Store Equipment 5 400 00
Office Equipment 1 500 00
Allowance for Doubtful Accounts 1 500 00
Accounts Payable 2 600 00
Joseph Stevens, Capital 55 000 00
Stevens’ Transfer of Assets, Liability, and Equity

A similar entry would be made
for the assets, liabilities, and
equity of Earl Foster.

Assume that instead of forming a partnership, the
two men formed a limited liability corporation.
Apr. 1 Cash 7 200 00
Accounts Receivable 16 300 00
Merchandise Inventory 28 700 00
Store Equipment 5 400 00
Office Equipment 1 500 00
Allowance for Doubtful Accounts 1 500 00
Accounts Payable 2 600 00
Joseph Stevens, Member Equity 55 000 00
Stevens’ Transfer of Assets, Liability, and Equity

Dividing Income
Services of Partners
Formula pembagian Laba-rugi Partnership dari Stone
dan Mills adalah sbb: 1. Annual salary allowance of
$30,000 to Tn A and Tn B is to receive $24,000. 2. Any
net income is to be divided equally.
Apabila diketahui Net Income th berjalan $75,000.
J. Stone C. Mills Total
Salary allowance $30,000 $24,000 $54,000
Remaining income 10,500 10,500 21,000
Division of net income $40,500 $34,500 $75,000

Dividing Income
Dec. 31 Income Summary 75 000 00
Jennifer Stone, Capital 40 500 00
Crystal Mills, Capital 34 500 00

Dividing Income
LLC Alternative
Jennifer Stone, Member Equity 40 500 00
Crystal Mills, Member Equity 34 500 00

Dividing Income
Formula pembagian Laba-rugi Partnership dari Tn
Stone dan Mills adalah sbb:
1. Annual salary allowance of $30,000 Tn Stone
and Tn Mills to receive $24,000.
2. Diberikan bunga 12% atas Saldo Modal masing2
3. Sisa Lebih/Kurang dibagi sama rata
Apabila diketahui Net Income th berjalan $75,000.

Dividing Income
Services of Partners and Investments
Interest allowance 9,600 7,200 16,800
$80,000 x
12%
$60,000 x
12%
Remaining income 2,100 2,100 4,200

Dividing Income

Dividing Income
LLC Alternative
Jennifer Stone, Member Equity 41 700 00
Crystal Mills, Member Equity 33 300 00

Dividing Income
Allowances Exceed Net Income
Assume the same facts as before except that
the net income is only $50,000.
Total $39,600 $31,200 $70,800
Deduct excess equally 10,400 10,400 20,800

Dividing Income

Dividing Income
Allowances Exceed Net Income
Assume the same facts as before except that
the net LOSS is $10,000.
Total $39,600 $31,200 $70,800
Division of net income ($800) ($9,200) ($10,000)
Deduct excess equally 40,400 40,400 80,800

Dividing Income
Dec. 31 Jennifer Stone, Capital 800
Crystal Mills, Capital 9 200
Income Summary 10 000

Partnership Dissolution
Dissolution terjadi apabila ada perubahan
anggota Partners. Masuknya partner baru atau
keluarnya partner lama
Sebelum dissolution perusahaan harus
melakukan Revaluasi atas assetnya
Revaluasi adalah menilai kembali seluruh
assetnya berdasar nilai wajar pada saat itu

Revaluation of Assets
Partners Donald Lewis and Gerald Morton
mempunyai saldo modal masing-masing
$35,000 and $25,000.
Hasil revaluasi terdapat kenaikan nilai atas
Merchandise Inventory dari $14,000
menjadi $17,000.
Laba-Rugi dibagi sama rata

June 1 Merchandise Inventory 3 000 00
Donald Lewis, Capital 1 500 00
Gerald Morton, Capital 1 500 00
Revaluation of Assets

Admitting a Partner
1. Purchasing an interest from one or more of
the current partners.
Membeli kepemilikan modal dari partner
yang lama.
2. Contributing assets to the partnership.
Menyetor asset ke perusahaan
Masuknya Anggota baru dalam Partnership ada
dua cara:

Purchasing an Interest in a Partnership
Partners Andrews and Bell mempunyai
saldo modal masing2 $50,000. tgl 1 June
Joe bergabung dengan membeli 1/5
kepemilikan Modal masing2 partner lama.

Purchasing an Interest in a Partnership
June 1 Tom Andrews, Capital 10 000 00
Nathan Bell, Capital 10 000 00
Joe Canter, Capital 20 000 00
For a LLC, members’ equity accounts would
have been used rather than capital accounts.

Contributing Assets to a Partnership
Partners Donald Lewis and Gerald Morton
mempunyai saldo modal masing2 $35,000
and $25,000. On June 1, Sharon Nelson
bergabung ke partnership dengan
menyetor kas $20,000

Contributing Assets to a Partnership
June 1 Cash 20 000 00
Sharon Nelson, Capital 20 000 00
For a LLC, Sharon Nelson, Member Equity
would have been credited.

Partner Bonuses
On March 1, partnership milik Marsha
Jenkins dan Helen Kramer admit Alex
Diaz as a new partner. Setelah revaluasi
saldo modal dari masing2 partner adalah
$20,000 and $24,000.

Partner Bonuses
Jenkins and Kramer setuju Diaz masuk
menjadi Partner baru dengan menyetor
Cash $31,000. Diaz akan memperoleh 1/3
kepemilikan Modal partnership yang baru.

Partner Bonuses from New Partner
Equity of Jenkins $20,000
Equity of Kramer 24,000
Diaz’s Contribution 31,000
Total equity after admitting Diaz $75,000
Diaz’s interest (1/3 x $75,000) $25,000
Diaz’s contribution $31,000
Diaz’s equity after admission 25,000
Bonus paid to Jenkins and Kramer $ 6,000

Partner Bonuses
Mar. 1 Cash 31 000 00
Alex Diaz, Capital 25 000 00
Marsha Jenkins, Capital 3 000 00
Helen Kramer, Capital 3 000 00
$6000 ÷ 2

Partner Bonuses
Setelah revaluasi saldo modal Janice
Cowen adl $80,000 dan Steve Dodd
sebesar $40,000. Ellen Chua masuk
menjadi partner baru dengan menyetor kas
$30,000 untuk memperoleh ¼
Kepemilikan modal partnership.
Pembagian laba-rugi antara Cowen and
Dodd adalah dengan ratio 2:1

Partner Bonuses to New Partner
Equity of Cowen $ 80,000
Equity of Dodd 40,000
Chua’s Contribution 30,000
Total equity after admitting Chua $150,000
Chua’s interest (1/4 x $150,000) $ 37,500
Chua’s contribution $30,000
Chua’s equity after admission 37,500
Bonus paid to Chua $ 7,500

Partner Bonuses
Mar. 1 Cash 30 000 00
Janice Cowen, Capital 5 000 00
Steve Dodd, Capital 2 500 00
Ellen Chua, Capital 37 500 00
1/3 x
$7,50
0
2/3 x
$7,50
0

Liquidating Partnerships
When a partnership goes out of
business, the winding-up process
is called the liquidation of a
partnership.

Langkah2 proses Likuidasi
1.Realisasi Non Cash Asset
2.Pembagian Laba/Rugi
Realisasi
3.Pelunasan Hutang
4.Pembagian Sisa Kas
kepada Partner

Farley, Greene, and Hall share income and losses in
a ratio of 5:3:2. On April 9, after discontinuing
operations, the firm had the following trial balance.
Cash $11,000
Noncash Assets 64,000
Liabilities $ 9,000
Jean Farley, Capital 22,000
Brad Greene, Capital 22,000
Alice Hall, Capital 22,000
Total $75,000 $75,000

Between April 10 and April 30, 2006,
Farley, Greene, and Hall sell all
noncash assets for $72,000.
Gain on Realization

Balance before realization $11,000 $64,000 $9,000
Left side of statement
Noncash
Cash Assets Liabilities
Sale of assets and division
of gain +72,000 -64,000 —

Right side of statement
Farley Greene Hall
Capital Capital Capital
of gain +4,000 +2,400 +1,600
$8,000
gain x .50
$8,000
gain x .30
$8,000
gain x .20

Noncash
of gain +72,000 –64,000 —
Balance after realization $83,000 $0 $9,000

Farley Greene Hall
of gain +4,000 +2,400 +1,600
Balance after realization $26,000 $24,400 $23,600

The partnership’s liabilities are
paid, $9,000.
Gain on Realization

Noncash
of gain +72,000 –64,000 —
Balance after realization $83,000 $ 0 $9,000
Payment of liabilities –9,000 — –9,000

Noncash
of gain +72,000 –64,000 —
Balance after payment $74,000 $ 0 $ 0

The remaining cash, $74,000,
is paid to each partner in
accordance with the partner’s
capital balance.
Gain on Realization

Noncash
of gain +72,000 –64,000 —
Partners’ cash distributed –74,000 — —
Final balances $ 0 $ 0 $ 0

Farley Greene Hall
of gain +4,000 +2,400 +1,600
Payment of liabilities — — —
Balance after payment $26,000 $24,400 $23,600
Partners’ cash distributed –26,000 –24,400 –23,600

Sale of Assets
Apr. 30 Cash 72 000 00
Noncash Assets 64 000 00
Gain on Realization 8 000 00

Division of Gain
Apr. 30 Gain on Realization 8 000 00
Jean Farley, Capital 4 000 00
Brad Greene, Capital 2 400 00
Alice Hall, Capital 1 600 00

Payment of Liabilities
Apr. 30 Liabilities 9 000 00
Cash 9 000 00

Distribution of Cash to Partners
Apr. 30 Jean Farley, Capital 26 000 00
Cash 74 000 00

Between April 10 and April 30, 2006,
Farley, Greene, and Hall sell all
noncash assets for $44,000.
Loss on Realization

Noncash
of loss +44,000 –64,000 —

Farley Greene Hall
of loss –10,000 –6,000 –4,000
$20,000
loss x .50
$20,000
loss x .30
$20,000
loss x .20

Noncash
of loss +44,000 –64,000 —
Balance after realization $55,000 $0 $9,000

Farley Greene Hall
of loss –10,000 –6,000 –4,000

The liabilities of the
partnership are paid, $9,000.
Loss on Realization

Noncash
of loss +44,000 –64,000 —

The remaining cash, $46,000,
is paid to each partner in
accordance with the partner’s
capital balance.
Loss on Realization

Noncash
of loss +44,000 –64,000 —
Partners’ cash distributed –46,000 — —

Farley Greene Hall
of loss –10,000 –6,000 –4,000
Payment of liabilities — — —
Balance after payment $12,000 $16,000 $18,000
Partners’ cash distributed –12,000 –16,000 –18,000

Sale of Assets
Apr. 30 Cash 44 000 00
Loss on Realization 20 000 00
Noncash Assets 64 000 00

Division of Loss
Loss on Realization 20 000 00

Distribution to Partners
Cash 46 000 00

Lifecycle of a Business
Business Stage Principal Advantage
Della’s Delights,
Proprietorship
Jeff Jacobi, Proprietor
Form easily: Jacobi forms a
business by obtaining a
local business license and
opening a bank account.
Della’s Delights,
Partnership
Jacobi and Lange,
Partners
Expand capital and
expertise: Jacobi admits a
new partner that contributes
capital and expertise.
Continued

Della’s Delights, LLC Limit legal liability: The
partnership is changed to an
LLC to limit legal liability
of owners.
Della’s Delights, Inc. Simplify raising capital:
The LLC is changed to a
corporation to raise capital
from the public.
Continued

Della’s Delights, Inc. a
division of International
Foods, Inc.
Provide exit: The company
is sold for cash.

A venture capitalist is an
individual or firm that
provides equity financing for
a new company.

Bab 12 AKUNTANSI UNTUK BENTUK USAHA PARTNERSHIP.ppt

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