Abasolb's Business Fair Value 92,500 505,000 1,150,000 3,087,500 Bermudez' Business Book Value Assets Cash Accounts receivable, net Inventory Property and equipment, net Total assets Book Value Fair Value 92,500 550,000 1,275,000 3,045,000 4.962,500 200,000 200,000 850,000 1,337,500 2.587 500 200,000 157,500 877,500 1,435,000 Liabilities and Capital Accounts payable Accrued expenses Notes payable Abasolo, capital Bermudez, capital Total Liabilities and Capital 590,000 55,000 1,875,000 2,442,500 590,000 55,000 1,875,000 227,500 35,000 227,500 35,000 4,962,500 2.325.000 2.587 500 Vhat is the total amount of assets after the formation of the partnership? Vhat is the capital balance of Bermudez, immediately after the formation of the partnership? Vhat is the capital balance of Abasolo, immediately after the formation of the partnership?

Abasolb's Business Fair Value 92,500 505,000 1,150,000 3,087,500 Bermudez' Business Book Value Assets Cash Accounts receivable, net Inventory Property and equipment, net Total assets Book Value Fair Value 92,500 550,000 1,275,000 3,045,000 4.962,500 200,000 200,000 850,000 1,337,500 2.587 500 200,000 157,500 877,500 1,435,000 Liabilities and Capital Accounts payable Accrued expenses Notes payable Abasolo, capital Bermudez, capital Total Liabilities and Capital 590,000 55,000 1,875,000 2,442,500 590,000 55,000 1,875,000 227,500 35,000 227,500 35,000 4,962,500 2.325.000 2.587 500 Vhat is the total amount of assets after the formation of the partnership? Vhat is the capital balance of Bermudez, immediately after the formation of the partnership? Vhat is the capital balance of Abasolo, immediately after the formation of the partnership?

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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WHAT IS TOTAL CURRENT ASSETS?
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