Accounting

Example 5 Allocation of
profits in a partnership (OG)
Maier&CoOGhastwogeneralpartners.Capitalaccountofthepartnerper1.1withdrawalsduring
thelastyearandinterestallocatedtotheircapitalaccountsareasfollows

HuberMaier Capital1.1 184.200

Withdrawals 80.000
Interest 10.260

IreneMaier Capital1.1 91.400

Withdrawals 50.000
Interest 4.830
Thepartnershipprofit176.000isallocatedtothepartnersaccordingtothearticlesof
partnership:
HuberMaierreceives50.000inadvanceasthemanagingpartner.Theresidualprofitisallocated
2:1(Hubert:Irene)tothepartners.
Required
a) Allocationofprofitstothepartners?
b) Capitalper31.12?

A.) Allocation of profits

Partner Managersalary Interest ResidualProfit Total

Hubert 50.000,00 10.260,00 73.940,00 134.200,00
Irene 4.830,00 36.970,00 41.800,00
Total 15.090,00 110.910,00 176.000,00

Profit 176.000,00
Interest 15.090,00
Managersalary 50.000,00
ResidualProfit 110.910,00

B.) Capital per 31.12

Hubert Irene
Capital1.1 184.200,00 91.000,00
Withdrawals 80.000,00 50.000,00
Profit 134.200,00 41.800,00

Capital31.12 238.400,00 82.800,00

Partnership (OG)
Everypartnerhasthefullresponsibilityfortheloss