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a to and Jacob I loss in the

a to and Jacob I loss in the

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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l SMART ? 6:42 PM © 20% O Assignment Details ACC C102-101K FIN ACCTG AND RPRTG 2 | W/S | 7:3... Daryl decided to withdraw from Daryl, Lei, Stephen, and Jacob Partnership. They share profit and loss in the ratio of 2:3:2:3 and have capital balances of P100,000, P160,000, P100,000 and P140,000, respectively. The assets and liabilities of the partnership are fairly valued. Required: A. Record the withdrawal of Daryl from the partnership under each of the following independent assumption: 1. Daryl is paid cash of P100,000 for the book value of his interest. 2. Daryl is paid cash of P120,000 for the book value of his interest. 3. Daryl is paid cash of P90,000 for the book value of his interest. 4. Dayl received cash of P80,000 and interest bearing note of P30,000 for the book value of his interest Submit Assignment ( Previous Next Dashboard Calendar To Do Notifications Inbox
Transcribed Image Text:l SMART ? 6:42 PM © 20% O Assignment Details ACC C102-101K FIN ACCTG AND RPRTG 2 | W/S | 7:3... Daryl decided to withdraw from Daryl, Lei, Stephen, and Jacob Partnership. They share profit and loss in the ratio of 2:3:2:3 and have capital balances of P100,000, P160,000, P100,000 and P140,000, respectively. The assets and liabilities of the partnership are fairly valued. Required: A. Record the withdrawal of Daryl from the partnership under each of the following independent assumption: 1. Daryl is paid cash of P100,000 for the book value of his interest. 2. Daryl is paid cash of P120,000 for the book value of his interest. 3. Daryl is paid cash of P90,000 for the book value of his interest. 4. Dayl received cash of P80,000 and interest bearing note of P30,000 for the book value of his interest Submit Assignment ( Previous Next Dashboard Calendar To Do Notifications Inbox
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