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J. Sari C. Mono Total
Annual salary allowance Rp 60,000,000 Rp48,000,000 Rp 108,000,000
Remaining income 21,000,000 21,000,000 42,000,000
Division of net income Rp 81,000,000 Rp69,000,000 Rp 150,000,000
12-2 Division of Net Income
to journal entry Slide 24
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12-2
The entry for dividing net income is as follows:
Dec. 31 Income Summary 150 000 000
Jamila Sari, Capital 81 000 000
Chandra Mono, Capital 69 000 000
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12-2 Dividing Income
—Services of Partners and Investments
The partnership agreement for Sari and Mono divides income as follows:
1. Monthly salary allowance of Rp 5,000,000 for Stone and Rp 4,000,000 for Mills.
2. Interest of 12 on each partner’s capital
balance on January 1.
3. If there is any remaining net income, it is to be divided equally between the partners.
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Division of Net Income
Salary allowance Rp60,000,000 Rp48,000,000 Rp108,000,000
Interest allowance 19,200,000 14,400,000 33,600,000
12-2
Net income of Rp 150,000,000 is divided.
J. Sari C. Mono Total
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Division of Net Income
Salary allowance Rp 60,000,000 Rp 48,000,000 Rp108,000,000
Interest allowance 19,200,000 14,400,000 33,600,000
12-2
12 x Sari’s capital account
balance on Jan. 1 of Rp 160,000,000
J. Sari C. Mills Total
Net income of Rp 150,000,000 is divided.
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Division of Net Income
J. Sari C. Mono Total
Salary allowance Rp 60,000,000 Rp 48,000,000 Rp 108,000,000
Interest allowance 19,200,000 14,400,000 33,600,000
12-2
12 x Mono’s capital account
balance on Jan. 1 of Rp120,000,000
Net income of Rp 150,000,000 is divided.
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Division of Net Income 12-2
J. Sari C. Mono Total
Salary allowance Rp 60,000,000 Rp48,000,000 Rp108,000,000
Interest allowance 19,200,000 14,400,000 33,600,000
Remaining income 4,200,000 4,200,000 8,400,000
Division of net income Rp 83,400,000 Rp66,600,000 Rp150,000,000
Net income of Rp 150,000,000 is divided.
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12-2
The entry for dividing net income is as follows:
Dec. 31 Income Summary 150 000 00
Jamila Sari, Capital 83 400 00
Chandra Mono, Capital 66 600 00
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12-2
The entry for dividing net income is as follows:
Dec. 31 Income Summary 150 000 00
Jamila Sari, Member Equity 83 400 00
Chandra Mono, Member Equity 66 600 00
Partnership Alternative
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Assume the same facts as before except that the net
income is only Rp100,000,000.
12-2 Dividing Income
—Allowances Exceed Net Income
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12-2 Division of Net Income
J. Sari C. Mono Total
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