Reference no: EM133062418

Question - In 2020, Meri and Putri agreed to establish a Beauty Salon business.

During 2020, there were the following transactions:

a) On January 1, 2020, the capital to establish a Beauty Salon consists of the following data:

Meri provided capital in the form of cash amounting to Rp90,000,000

Putri provides capital in the form of equipment in the amount of Rp. 40,000,000

b) On April 1, 2020, Meri provided additional capital of IDR 5,000,000 in cash.

c) On August 1, Putri provided additional capital of Rp. 3,000,000 in the form of stock.

d) On October 1, 2020, Meri took a prize of IDR 2,000,000;

e) On November 1, Putri provided additional capital of IDR 4,000,000 in cash.

Additional data:

1. On December 31, 2020, Beauty salon profit is IDR 30,000,000.

2. The salary paid to each partner is Rp. 4,000,000 for Meri and Rp. 2,500,000 for Putri.

Required -

a) Journalize the above transactions!

b) It is known that at the end of December the assets of the equipment were revalued. In accordance with the goodwill method, whose capital will change, calculate and record the changes! Assume that the composition of capital is 6:4.

c) Calculate the profit allocation on the above transaction for partnership capital based on the weighted average balance of capital!

d) Prepare a schedule for the allocation of partnership profits based on the weighted average balance of capital if it is known that interest payments are 2% per year! Journalize the profit sharing!

e) On December 31, 2020, Meri and Putri agreed to accept Rika as a new ally by buying Meri's 10% ownership. Keep a journal of these changes and the new Beauty Salon ownership structure!