美国CPA财务会计与报告知识点之Partnerships

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　　Partnerships

　　Admission of a partner–Purchase of an existing partnership interest，OR Investing additional capital into the partnership.

　　Purchase or sale of existing partnership interest is outside partnership transaction. So No journal entry.

　　Investing additional capital into the partnership can use three method.

　　Exact/Bonus/Goodwill method

　　Contributions=FV of asset–PV of assumed liability

　　Exact method.

　　New partnership%=New contribution/Total contributions

　　Bonus method.

　　New partnership% is stipulate by agreement.

　　Bonus=New contributions-Total contributions*new partnership%

　　Bonus allocates to old partner account by profit share%

　　Dr.New Contributions

　　Cr.Capital–old partner（bonus part）

　　Cr.Capital–new partner（Total contributions*new partnership stipulate%）

　　Goodwill method.

　　New partnership% is stipulate by agreement.

　　Goodwill=New contributions/new partnership%-Total contributions

　　Goodwill allocates to old partner account by profit share%

　　Dr.New Contributions

　　Dr.Goodwill（goodwill part）

　　Cr.Capital–old partner（goodwill part）

　　Cr.Capital–new partner（the amount of new contributions）

　　Exact method

　　The incoming partner‘s capital account is their actual contribution.

　　No adjustment to the existing partner‘s capital account

　　Bonus method

　　Balance in total capital accounts controls the computation

　　The incoming partner‘s capital account is their% of the partnership total contributions.

　　Bonus method（Continued）

　　Adjust the existing partner‘s capital accounts to balance.

　　Goodwill method

　　Going in investment controls the computation

　　The incoming partner‘s capital account is their actual contribution.

　　Goodwill is determined based upon the incoming partner‘s contribution，and shared by the existing partners.

　　In partnership，all interest，salaries，and bonuses are deducted from total profit to arrive at the amount of the profit and loss distributed in the profit and loss ratio.

　　Withdrawal of a partner–Bonus method Vs.Goodwill method

　　Withdrawal Bonus method，bonus=withdrawing partner‘s capital account（after revaluation）–consideration paid

　　Withdrawal goodwill method，goodwill=Consideration/withdrawing partner‘s%-before withdrawing capital account（after revaluation）

　　Bonus and Goodwill is allocated to remaining partner‘s capital account in accordance with their profit and loss ratio

　　Liquidation of a partnership

　　The order of preference regarding distribution of assets are

　　Creditors，including partners who are creditors，must be paid before the noncreditor partners receive any payments.

　　Rights of offset between a partner‘s loans to and from the partnership and that person’s capital balances generally exists in liquidation.

　　Capital deficiency is a debit balance in a partner‘s capital account and indicates that the partnership has a claim against the partner for the amount of the deficiency.（资不抵债，无限责任）

　　普通合伙人对合伙企业债务负无限连带责任。债权人可对任意一个、数个、全体普通合伙人行使追偿权。任一合伙人对于其偿还的，超过其约定份额的部分，对其他合伙人有代位追偿权。