Accounting For Partnership And Corporation By Baysa And Lupisan 2018 Edition Pdf Link

Accounting for Partnership and Corporation by Baysa and Lupisan (2018 edition) provides a foundational guide for Philippine accountancy students, focusing on PFRS-aligned partnership formation, operations, and liquidation, alongside detailed corporate accounting procedures. The text is noted for its clear pedagogical approach and step-by-step solutions for complex topics like profit distribution and treasury shares. For further information, visit the official educational resources or authorized publishers for the text.

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Sample short case (illustrative)

  • A partnership of A and B with capital balances P50,000 and P30,000 agree to admit C for a 20% interest by investing P20,000 cash. Steps: revalue assets if needed; determine new total capital; allocate goodwill or bonus if investment differs from implied capital share; record C’s capital contribution and adjust partners’ capital accounts accordingly. (Detailed journal entries would follow standard textbook procedure.)

Main Topics Covered – Partnership Accounting

  1. Formation – Valuation of non-cash contributions, bonus method vs. revaluation method, partnership books setup.
  2. Operation – Division of profits/losses (agreed ratio, capital ratio, salary & interest allowances).
  3. Changes in Ownership – Admission of a new partner (bonus vs. asset revaluation), withdrawal/retirement, death, incorporation of a partnership.
  4. Dissolution and Liquidation – Lump-sum vs. installment liquidation, cash priority program, schedule of partnership liquidation.

Main Topics Covered – Corporation Accounting

  1. Formation and Share Capital – Authorized, subscribed, and paid-up capital; par vs. no-par shares; share issuance for cash or non-cash assets.
  2. Share Premium and Retained Earnings – Donated capital, reacquisition of shares (treasury shares), appropriations of retained earnings.
  3. Dividends – Cash dividends, property dividends, share dividends (small vs. large).
  4. Financial Statement Presentation – Statement of changes in equity, retained earnings reconciliation, note disclosures per PFRS.
  5. Basic Earnings Per Share (EPS) – Simple capital structure only (no complex dilutive securities).
  6. Corporate Liquidation (brief) – Trustee’s accounting and statement of affairs.

Bibliographic details

  • Title: Accounting for Partnership and Corporation
  • Authors: (Assumed) Baysa and Lupisan
  • Edition: 2018 (PDF version requested)
  • Scope: Textbook covering accounting principles, recordkeeping, financial statements, and special topics for partnership and corporate forms of business.

Report: Accounting for Partnership and Corporation — Baysa & Lupisan (2018 edition, PDF)

Write-Up: Accounting for Partnership and Corporation (2018 Edition)

Authors: Conrado T. Baysa and Ma. Teresa L. Lupisan
Edition: 2018 (likely revised edition based on Philippine Financial Reporting Standards – PFRS)
Publisher: (Commonly published by GIC Enterprises & Co., Inc. in the Philippines) A partnership of A and B with capital

Key concepts and accounting treatments (concise)

  • Partnership capital accounts: separate capital accounts per partner; profit allocation changes require revaluation and possible goodwill adjustments.
  • Admission/retirement: adjust capital accounts for revalued asset values, goodwill, and any bonus to/from existing partners.
  • Liquidation: realize assets, pay liabilities, distribute remaining cash per capital balances.
  • Corporate equity: record issuance at par/premium; credit additional paid-in capital for premiums; treasury stock reduces equity (cost method commonly used).
  • Dividends: declaration reduces retained earnings and creates a payable; distribution reduces cash and payable; stock dividends transfer retained earnings to paid-in capital.
  • Stock splits: no journal entry (memo disclosure and share/par adjustments); affect per-share amounts only.