Homework Help is Here – Start Your Trial Now!
Business
Accounting
Accounts Payable Other Liabilities Capital Additional information: 180,000 250,000 200,000 350,000 620,000 800,000 1. Accounts Receivable of P20,000 and P40,000 are uncollectible in AQUIL's and BADIR's respective books. 2. Inventories of P6,000 and P7,000 are worthless in AQUIL's and BADIR's respective books. 3. Intangible assets are to be worthless in each books. Question 3 What will be the capital balance of partner BADIR after the adjustments?(...

Accounts Payable Other Liabilities Capital Additional information: 180,000 250,000 200,000 350,000 620,000 800,000 1. Accounts Receivable of P20,000 and P40,000 are uncollectible in AQUIL's and BADIR's respective books. 2. Inventories of P6,000 and P7,000 are worthless in AQUIL's and BADIR's respective books. 3. Intangible assets are to be worthless in each books. Question 3 What will be the capital balance of partner BADIR after the adjustments?(...

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
AQUIL and BADIR formed a partnership on January 2, 2022 by contributing their respective assets and equities subject to adjustments. On that date, the following were provided: Cash Accounts Receivable Inventories Land Building Equipment Intangible assets Accounts Payable Other Liabilities Capital AQUIL BADIR 28,000 62,000 200,000 600,000 120,000 200,000 600,000 500,000 50,000 35,000 2,000 3,000 180,000 250,000 200,000 350,000 OZU,UUU 800,000
Transcribed Image Text:AQUIL and BADIR formed a partnership on January 2, 2022 by contributing their respective assets and equities subject to adjustments. On that date, the following were provided: Cash Accounts Receivable Inventories Land Building Equipment Intangible assets Accounts Payable Other Liabilities Capital AQUIL BADIR 28,000 62,000 200,000 600,000 120,000 200,000 600,000 500,000 50,000 35,000 2,000 3,000 180,000 250,000 200,000 350,000 OZU,UUU 800,000
Accounts Payable Other Liabilities Capital Additional information: 180,000 250,000 200,000 350,000 620,000 800,000 1. Accounts Receivable of P20,000 and P40,000 are uncollectible in AQUIL's and BADIR's respective books. 2. Inventories of P6,000 and P7,000 are worthless in AQUIL's and BADIR's respective books. 3. Intangible assets are to be worthless in each books. Question 3 What will be the capital = balance of partner BADIR after the adjustments?(... d
Transcribed Image Text:Accounts Payable Other Liabilities Capital Additional information: 180,000 250,000 200,000 350,000 620,000 800,000 1. Accounts Receivable of P20,000 and P40,000 are uncollectible in AQUIL's and BADIR's respective books. 2. Inventories of P6,000 and P7,000 are worthless in AQUIL's and BADIR's respective books. 3. Intangible assets are to be worthless in each books. Question 3 What will be the capital = balance of partner BADIR after the adjustments?(... d
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS