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Carbonel and Dimaano formed a partnership and agreed to divide initial capital equally, even though Carbonel contributed P81,250 and Dimaano contributed P68,250 in'identifiable assets. Under the bonus approach to adjust the capital accounts. Dimaano's unidentifiable assets should be debited for: a. P37,375 b. P13,000 C. P6,500

Carbonel and Dimaano formed a partnership and agreed to divide initial capital equally, even though Carbonel contributed P81,250 and Dimaano contributed P68,250 in'identifiable assets. Under the bonus approach to adjust the capital accounts. Dimaano's unidentifiable assets should be debited for: a. P37,375 b. P13,000 C. P6,500

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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5 Carbonel and Dimaano formed a partnership and agreed to divide initial capital equally, even though Carbonel contributed P81,250 and Dimaano contributed P68,250 in'identifiable assets. Under the bonus approach to adjust the capital accounts. Dimaano's unidentifiable assets should be debited for: a. P37,375 b. P13,000 C. P6,500 d. 0
Transcribed Image Text:5 Carbonel and Dimaano formed a partnership and agreed to divide initial capital equally, even though Carbonel contributed P81,250 and Dimaano contributed P68,250 in'identifiable assets. Under the bonus approach to adjust the capital accounts. Dimaano's unidentifiable assets should be debited for: a. P37,375 b. P13,000 C. P6,500 d. 0
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