Partnership And Corporation Accounting By Rafael Lopez Pdf -
Partnership and Corporation Accounting by Rafael M. Lopez Jr. is a widely used textbook in Philippine accounting education that employs a "simplified procedural approach" to teach the fundamental principles of business organizations beyond sole proprietorships. Overview of Content
The book is structured to guide students through the lifecycle of both partnerships and corporations, emphasizing practical application through journal entries and financial statement preparation. 1. Partnership Accounting
The text covers the specialized accounting needs for partnerships, focusing on:
Formation: Recording initial contributions (money, property, or industry) into the common fund.
Operations: Methods for distributing profits and losses based on capital balances or agreed ratios. partnership and corporation accounting by rafael lopez pdf
Dissolution: Accounting for changes in ownership structure, such as the admission of a new partner or the withdrawal of an existing one.
Liquidation: The process of winding up business affairs, settling liabilities, and distributing remaining assets. 2. Corporation Accounting
Lopez highlights the corporation as an "artificial person" with a legal personality distinct from its owners. Key topics include:
Share Capital Transactions: Recording the issuance of shares, treasury shares, and paid-in capital. Partnership and Corporation Accounting by Rafael M
Retained Earnings and Dividends: Managing accumulated earnings and the distribution of dividends.
Legal Concepts: Explaining "legal capital" and the "trust fund doctrine" to ensure students understand the regulatory environment. Key Features
Simplified Approach: Designed to be "near to self-teaching," making it accessible for beginners.
Practical Exercises: Includes problems involving statements of financial position and income summaries. Part 2: Corporation Accounting This section shifts focus
Philippine Context: The content is aligned with Philippine accounting standards and laws. Accessing the Material CORPORATION ACCOUNTING by LOPEZ | PDF - Scribd
Part 2: Corporation Accounting
This section shifts focus from partners to shareholders, covering the corporate entity from formation to dissolution.
Part 1: Partnership Accounting (As Covered by Lopez)
The first half of the Lopez textbook deals exclusively with partnerships. A partnership is an unincorporated association of two or more individuals to carry on a business for profit. Lopez breaks this down into specific, examinable modules.
How to Use the Book for CPA Exam Success
Having the Partnership and Corporation Accounting by Rafael Lopez PDF (legally) is only half the battle. Here is a study strategy used by topnotchers.
Where to Legally Obtain the eBook or PDF
If you need a digital copy, here are the ethical (and safe) sources:
- REX e-Store (Official Publisher): REX Book Store holds the publishing rights. They often sell a legal DRM-protected eBook version for a fraction of the physical book price.
- University E-libraries: Many Philippine universities (UP, DLSU, UST, ADMU) have purchased institutional licenses. Log into your university portal and search the database.
- Second-hand + Scanner (Fair Use): If you own a physical copy, you are legally allowed to scan chapters for personal, educational use (not mass distribution).
- Google Books Preview: Sometimes, earlier chapters are available for free preview.
Price check: A physical copy retails for approximately ₱450 – ₱650 ($8 – $12 USD). The official eBook is often cheaper (₱300 – ₱400).
2. Division of Profits and Losses
- Agreed ratios, capital ratio (beginning vs. weighted average), and salary/interest allowances.
- Guaranteed amounts to specific partners.
- Common exam trick: Calculating partner bonuses based on net income after the bonus.
