a to and Jacob I loss in the
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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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
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Calendar
To Do
Notifications
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